ECONOMIST Professor Lubinda Haabazoka says government’s decision to rebase the country’s Gross Domestic Product (GDP) from the 2010 benchmark to 2023 will provide a more realistic figure of the economy. Recently, the Zambia Statistics Agency (ZamStats) selected 2023 as the new GDP base year, citing its ability to capture the current economic structure. Until recently, the country was using 2010 data as a benchmark to measure economic growth, data that the Agency said would not give the most accurate presentation of Zambia’s current economic growth. Commenting on this in an interview, Thursday, Haabazoka pointed out that the rebasing was necessary as it would help the country make decisions based on the real size of the economy. “GDP is normally calculated…
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