Zambia's Economy
16Dec11
Sadly, about 68% of Zambians live below the recognized national poverty line. Rural poverty rates are a staggering 78% whilst urban poverty rates are 53%. Zambia ranked extremely low on the 2007 Global Competitiveness Index, an index which looks at factors that affect economic growth, listed at 117 out of 128 countries. Per capita annual incomes are just $395, half of what they were at independence, which places Zambia amongst one of the poorest nations in the world. Social indicators of wealth are still declining such as life expectancy which is just 40.9 years and the population is riddled with HIV/AIDs-related issues which place a large weight upon the economy.
Zambia fell into poverty during the decades of Kaunda’s socialist policies, particularly following the decline of international copper prices in the 1970s. After the dictatorship of Kaunda ended, successive governments have attempted limited economic reforms. Let’s hope that gu10 led light bulbs shine their light on Zambia's economy soon!
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Zambia fell into poverty during the decades of Kaunda’s socialist policies, particularly following the decline of international copper prices in the 1970s. After the dictatorship of Kaunda ended, successive governments have attempted limited economic reforms. Let’s hope that gu10 led light bulbs shine their light on Zambia's economy soon!
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