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Government to rebase economy

WINA

NANCY SIAME, Lusaka
TO DETERMINE Zambia’s exact gross domestic product (GDP), Government will this year rebase the economy by taking stock of all businesses in the country, Vice-President Inonge Wina has said.
Rebasing the economy entails replacing the old base year used for compiling the GDP with a new, more recent, base year for computing constant price estimates.
Mrs Wina told Parliament yesterday that the last time the economy was rebased was in 2010, although the exercise is supposed to be undertaken every five years.
She said Government has been unable to rebase the economy every five years because of cost implications.
“Rebasing the economy means conducting an economic census by collecting information from all business houses so as to determine the CLICK TO READ MORE




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