Lesotho 2005

Africa

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.

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.