30 Oct 2018
Zambia, being the latest African nation to make changes that are to typically inflate the size of its gross domestic product, said on Sunday that it would direct funds with the intention of rebasing the size of Zambia’s economy in 2019 – according to Reuters.
“We need a clear picture on the size of the Zambian economy due to its changed structure from 2010 to date,” Finance Minister Margaret Mwanakatwe said in a statement.
“Therefore, we have set aside funds in the 2019 budget for rebasing the Gross Domestic Product (GDP) in order to better measure our economy.”
No additional details regarding the rebasing had been revealed. Zambia is one of Africa’s main copper producers and also heavily relies on agriculture.
Nigeria currently holds the title as Africa’s largest economy, after a rebasing calculation in 2014 that almost double its GDP to more than $500 billion.