According to ehistorylib, in 2005, Lesotho had a population of approximately 2 million people with a GDP of $1.8 billion. The economy was primarily reliant on agriculture and labour-intensive manufacturing, with the majority of the population engaged in subsistence farming. Unemployment rates were high at around 40%, while poverty levels remained quite high with an estimated 70% of the population living below the poverty line.
Foreign relations in 2005 were generally positive with Lesotho being a member of various international organizations such as the African Union and United Nations (UN). In addition, it maintained diplomatic ties with many countries in Europe, Asia and North America. It was also an important ally to South Africa and had close trade ties to other African countries.
Politically, Lesotho was a constitutional monarchy during this time period with executive power vested both in the Prime Minister who could appoint ministers responsible for executing policy decisions as well as the King who had limited powers over government appointments and foreign affairs. Furthermore, there were two branches of government: Executive (Prime Minister) and Legislative (Parliament). These branches worked together to ensure that laws were properly enforced throughout the country.
Yearbook 2005
Lesotho. According to countryaah, Maseru is the capital and one of the major cities within the country of Lesotho. The first nationwide municipal elections were held in April, but were characterized by low interest. The opposition boycotted the elections with reference to poor preparation and unclear powers for the new municipal assemblies, which will replace the previous system of municipal government exercised by traditional chieftains in collaboration with government officials.
- Also see abbreviationfinder.org for how the acronym LS stands for the country of Lesotho and other meanings of this two-letter abbreviation.
Economy
| Inflation rate | 5.30% |
| Unemployment rate | 28.1% |
| Gross domestic product (GDP) | $ 6,656,000,000 |
| GDP growth rate | -1.60% |
| GDP per capita | $ 3,300 |
| GDP by sector | |
| Agriculture | 5.80% |
| Industry | 39.20% |
| Service | 54.90% |
| State budget | |
| Revenue | 995.8 million |
| Expenditure | 763.2 million |
| Proportion of the population below the national poverty line | 49% |
| Distribution of household income | |
| Top 10% | 39.4 |
| Lower 10% | 1 |
| Industrial production growth rate | 0.70% |
| Investment volume | 24.4% of GDP |
| National debt | 33.70% of GDP |
| Foreign exchange reserves | $ 983,000,000 |
| Tourism | 2014 |
| Visitors | 1,079,000 |
| Revenue | $ 17,000,000 |
Lesotho is also a country in deep economic and social crisis, where high rates of HIV/AIDS, depleted soils and high unemployment have led to an economic decline. The International Monetary Fund said that Lesotho would need 7.5% annual growth to meet the so-called millennium target of halved poverty by 2015. Instead, growth declined from 3% to about 2% in the 2004/05 financial year.
