ZAMBIA has in the Month of June recorded a trade deficit of over one million kwacha, the highest for the year 2015; Zambia Central Statistics Office (CSO) says. CSO director of census and statistics, John Kalumbi revealed that the country recorded a trade deficit valued at K 1,293.2 million in June 2015 from a trade deficit of K 1, 210.0 million recorded in May 2015. He said this means the country imported more in June 2015 than it exported in nominal terms.
Former President Rupiah Banda’s political advisor Dr Francis Chigunta has advised the Patriotic Front government (PF) to strengthen the monetary policy implementation to avoid the increasing levels of inflation. In an interview with the Lusaka star, Dr Chigunta said the inflation rate in Zambia on an annual basis is still low and around this time of the year it is normal to experience an increase in inflation.
THE Bank of Zambia (BoZ) has maintained the policy rate for the month of December 2013 at 9.75 per cent, head of public relations Kanguya Mayondi has announced. He said this in a statement in Ndola last week that the committee noted that the recent developments in inflation have broadly been in line with expectations, as annual overall inflation was recorded at 7 per cent in November 2013.