Abstract
Context. For several years, Lesotho achieved solid economic growth with only moderate inflation; however, this growth lacked inclusiveness and poverty has remained widespread. Most recently, growth has begun to slow, partly reflecting spillovers from South Africa, as well as uncertainty at home. Lesotho relies heavily on revenues from the Southern African Customs Union (SACU) to finance large government expenditures, but these revenues are highly volatile. Need for Fiscal Adjustment. SACU revenues will fall sharply in fiscal year 2016/17 (April-March), with much of this fall expected to be long-lasting. Although Lesotho has built substantial international reserves and fiscal buffers, a major fiscal adjustment over the next 2-3 years will be needed to maintain macroeconomic stability. Containing the government wage bill-which at 23 percent of GDP is the largest in sub-Saharan Africa-will be central to a successful adjustment. Progress on reforms to public service administration and public financial management is also critical. Better targeting of government transfers is necessary for social protection.
Context
1. Over the past several years, Lesotho achieved solid economic growth with only moderate inflation; however, this growth lacked inclusiveness and poverty has remained widespread (Figure 1 and Tables 1–5). Real GDP growth averaged about 4½ percent a year from 2010 to 2014, led by the mining and construction sectors. Since 2012, annual inflation has been less than 6 percent, anchored by the loti’s parity with the South African rand under the Common Monetary Area (CMA). Despite this performance, unemployment rates have remained high, especially among the youth, and the incidence of poverty (57 percent of the total population) is virtually unchanged from a decade ago (Table 6).1 Moreover, most health, education, and social indicators have shown little or no improvement, even with considerable government spending in these areas (about 30 percent of GDP in recent years), suggesting some severe shortcomings in the delivery of public services.
Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.
Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.Lesotho: Macroeconomic Developments
Citation: IMF Staff Country Reports 2016, 033; 10.5089/9781513535586.002.A001
Sources: World Bank, country authorities, and IMF staff calculation.Table 1.Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Selected Economic Indicators, 2012/13–2019/20
The fiscal year runs from April 1 to March 31.
IMF Information Notice System trade-weighted; end of period.
Reserve coverage of 100 percent of M1 is minimum required under the terms of Common Monetary Area agreement with South Africa.
12-month time deposits rate.
Excluding changes in inventories.
Including additional fiscal measures.
Table 1.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Selected Economic Indicators, 2012/13–2019/20
| Population (1,000; 2011 est.) | 2,194 | |||||||||
| GNI per capita (U.S. dollars; 2011 est.): | 1,220 | |||||||||
| Poverty rate (percent, 2011 est.): | 57 | |||||||||
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||
| Act. | Act. | Est. | Projections | |||||||
| (Percentage changes; unless otherwise indicated) | ||||||||||
| National account and prices | ||||||||||
| GDP at constant prices | 5.3 | 3.6 | 3.4 | 2.6 | 2.9 | 4.5 | 5.5 | 3.6 | ||
| GDP at market prices | ||||||||||
| (Maloti millions) | 19,783 | 21,975 | 24,071 | 25,909 | 27,804 | 30,617 | 34,032 | 37,006 | ||
| Consumer prices (average) | 5.5 | 5.0 | 3.8 | 3.9 | 4.1 | 5.0 | 5.0 | 5.0 | ||
| Consumer prices (eop) | 5.0 | 5.6 | 2.6 | 4.1 | 5.0 | 5.0 | 5.0 | 5.0 | ||
| GDP deflator | 2.0 | 7.2 | 5.9 | 4.9 | 4.3 | 5.3 | 5.4 | 5.0 | ||
| External sector | ||||||||||
| Terms of trade (deterioration -) | −9.7 | −0.2 | 5.1 | 0.5 | −1.0 | 1.3 | 1.6 | 1.7 | ||
| Average exchange rate | ||||||||||
| (Local currency per U.S. dollar) | 8.6 | 9.6 | 11.3 | … | … | … | … | … | ||
| Nominal effective exchange rate change (- = depreciation) 2 | −14.4 | −11.5 | −3.9 | … | … | … | … | … | ||
| Real effective exchange rate (- = depreciation) 2 | −12.1 | −9.3 | −4.7 | … | … | … | … | … | ||
| Current account balance | ||||||||||
| (Including official transfers, percent of GDP) | −10.3 | −10.6 | −8.3 | −6.4 | −14.0 | −7.5 | −9.2 | −8.1 | ||
| (Excluding official transfers, percent of GDP) | −43.4 | −40.1 | −39.2 | −33.2 | −31.4 | −28.6 | −29.3 | −28.1 | ||
| Gross international reserves | ||||||||||
| (Months of imports) | 4.9 | 5.2 | 6.3 | 6.3 | 5.6 | 5.4 | 5.3 | 5.3 | ||
| (Percent of M1) 3 | 268 | 248 | 290 | 281 | 248 | 235 | 222 | 213 | ||
| Money and credit | ||||||||||
| Domestic credit to the private sector | 42.2 | 10.3 | 11.8 | 9.1 | 8.8 | 11.6 | 12.5 | 10.5 | ||
| Reserve money | −1.9 | 15.2 | 8.2 | 8.6 | 8.3 | 10.8 | 11.8 | 9.7 | ||
| Broad money | 6.1 | 31.5 | −5.9 | 8.4 | 8.7 | 11.0 | 12.1 | 9.9 | ||
| Interest rate (percent) 4 | 2.4 | 2.3 | 3.0 | … | … | … | … | … | ||
| (Percent of GDP; unless otherwise indicated) | ||||||||||
| Savings and investment | ||||||||||
| Gross capital formation 5 | 36.7 | 35.0 | 33.0 | 33.3 | 33.2 | 32.5 | 34.3 | 34.5 | ||
| Public | 20.8 | 19.6 | 17.9 | 17.9 | 18.1 | 17.9 | 19.9 | 20.1 | ||
| Private | 15.6 | 15.0 | 14.7 | 15.0 | 14.8 | 14.2 | 14.0 | 14.0 | ||
| National savings | 26.5 | 24.4 | 24.8 | 26.9 | 19.2 | 25.0 | 25.0 | 26.3 | ||
| Public | 24.9 | 16.2 | 17.1 | 14.9 | 6.4 | 9.1 | 8.8 | 8.8 | ||
| Private | 1.6 | 8.2 | 7.7 | 12.0 | 12.8 | 15.9 | 16.2 | 17.5 | ||
| Public debt | 40.3 | 43.4 | 47.8 | 53.4 | 55.8 | 53.0 | 50.1 | 48.3 | ||
| External public debt | 37.2 | 41.1 | 46.2 | 50.8 | 50.3 | 48.0 | 45.6 | 44.2 | ||
| Domestic debt | 3.1 | 2.2 | 1.6 | 2.6 | 5.5 | 5.0 | 4.5 | 4.1 | ||
| Central government fiscal operations | ||||||||||
| Revenue and grants | 66.5 | 60.4 | 60.6 | 60.2 | 50.8 | 52.6 | 52.1 | 52.0 | ||
| Of which: SACU revenue | 30.2 | 27.6 | 29.2 | 25.7 | 15.5 | 18.6 | 18.2 | 18.2 | ||
| Of which: grants | 8.6 | 4.8 | 2.1 | 3.7 | 3.6 | 3.5 | 3.3 | 3.2 | ||
| Recurrent expenditure | 44.3 | 47.4 | 45.8 | 49.0 | 47.8 | 46.4 | 46.2 | 46.3 | ||
| of which: wages, including social contributions | 18.9 | 20.9 | 21.6 | 23.1 | 23.6 | 23.5 | 23.4 | 23.4 | ||
| Capital expenditure | 17.2 | 15.5 | 14.1 | 14.3 | 13.4 | 12.7 | 12.8 | 12.7 | ||
| Unidentified fiscal adjustment | … | … | … | … | 3.0 | 6.5 | 7.0 | 7.0 | ||
| Overall balance 6 | 5.0 | −2.5 | 0.6 | −3.2 | −7.4 | 0.0 | 0.0 | 0.0 | ||
| (Excluding grants) | −3.6 | −7.3 | −1.4 | −6.9 | −11.0 | −3.5 | −3.3 | −3.2 | ||
The fiscal year runs from April 1 to March 31.
IMF Information Notice System trade-weighted; end of period.
Reserve coverage of 100 percent of M1 is minimum required under the terms of Common Monetary Area agreement with South Africa.
12-month time deposits rate.
Excluding changes in inventories.
Including additional fiscal measures.
Table 1.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Selected Economic Indicators, 2012/13–2019/20
| Population (1,000; 2011 est.) | 2,194 | |||||||||
| GNI per capita (U.S. dollars; 2011 est.): | 1,220 | |||||||||
| Poverty rate (percent, 2011 est.): | 57 | |||||||||
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||
| Act. | Act. | Est. | Projections | |||||||
| (Percentage changes; unless otherwise indicated) | ||||||||||
| National account and prices | ||||||||||
| GDP at constant prices | 5.3 | 3.6 | 3.4 | 2.6 | 2.9 | 4.5 | 5.5 | 3.6 | ||
| GDP at market prices | ||||||||||
| (Maloti millions) | 19,783 | 21,975 | 24,071 | 25,909 | 27,804 | 30,617 | 34,032 | 37,006 | ||
| Consumer prices (average) | 5.5 | 5.0 | 3.8 | 3.9 | 4.1 | 5.0 | 5.0 | 5.0 | ||
| Consumer prices (eop) | 5.0 | 5.6 | 2.6 | 4.1 | 5.0 | 5.0 | 5.0 | 5.0 | ||
| GDP deflator | 2.0 | 7.2 | 5.9 | 4.9 | 4.3 | 5.3 | 5.4 | 5.0 | ||
| External sector | ||||||||||
| Terms of trade (deterioration -) | −9.7 | −0.2 | 5.1 | 0.5 | −1.0 | 1.3 | 1.6 | 1.7 | ||
| Average exchange rate | ||||||||||
| (Local currency per U.S. dollar) | 8.6 | 9.6 | 11.3 | … | … | … | … | … | ||
| Nominal effective exchange rate change (- = depreciation) 2 | −14.4 | −11.5 | −3.9 | … | … | … | … | … | ||
| Real effective exchange rate (- = depreciation) 2 | −12.1 | −9.3 | −4.7 | … | … | … | … | … | ||
| Current account balance | ||||||||||
| (Including official transfers, percent of GDP) | −10.3 | −10.6 | −8.3 | −6.4 | −14.0 | −7.5 | −9.2 | −8.1 | ||
| (Excluding official transfers, percent of GDP) | −43.4 | −40.1 | −39.2 | −33.2 | −31.4 | −28.6 | −29.3 | −28.1 | ||
| Gross international reserves | ||||||||||
| (Months of imports) | 4.9 | 5.2 | 6.3 | 6.3 | 5.6 | 5.4 | 5.3 | 5.3 | ||
| (Percent of M1) 3 | 268 | 248 | 290 | 281 | 248 | 235 | 222 | 213 | ||
| Money and credit | ||||||||||
| Domestic credit to the private sector | 42.2 | 10.3 | 11.8 | 9.1 | 8.8 | 11.6 | 12.5 | 10.5 | ||
| Reserve money | −1.9 | 15.2 | 8.2 | 8.6 | 8.3 | 10.8 | 11.8 | 9.7 | ||
| Broad money | 6.1 | 31.5 | −5.9 | 8.4 | 8.7 | 11.0 | 12.1 | 9.9 | ||
| Interest rate (percent) 4 | 2.4 | 2.3 | 3.0 | … | … | … | … | … | ||
| (Percent of GDP; unless otherwise indicated) | ||||||||||
| Savings and investment | ||||||||||
| Gross capital formation 5 | 36.7 | 35.0 | 33.0 | 33.3 | 33.2 | 32.5 | 34.3 | 34.5 | ||
| Public | 20.8 | 19.6 | 17.9 | 17.9 | 18.1 | 17.9 | 19.9 | 20.1 | ||
| Private | 15.6 | 15.0 | 14.7 | 15.0 | 14.8 | 14.2 | 14.0 | 14.0 | ||
| National savings | 26.5 | 24.4 | 24.8 | 26.9 | 19.2 | 25.0 | 25.0 | 26.3 | ||
| Public | 24.9 | 16.2 | 17.1 | 14.9 | 6.4 | 9.1 | 8.8 | 8.8 | ||
| Private | 1.6 | 8.2 | 7.7 | 12.0 | 12.8 | 15.9 | 16.2 | 17.5 | ||
| Public debt | 40.3 | 43.4 | 47.8 | 53.4 | 55.8 | 53.0 | 50.1 | 48.3 | ||
| External public debt | 37.2 | 41.1 | 46.2 | 50.8 | 50.3 | 48.0 | 45.6 | 44.2 | ||
| Domestic debt | 3.1 | 2.2 | 1.6 | 2.6 | 5.5 | 5.0 | 4.5 | 4.1 | ||
| Central government fiscal operations | ||||||||||
| Revenue and grants | 66.5 | 60.4 | 60.6 | 60.2 | 50.8 | 52.6 | 52.1 | 52.0 | ||
| Of which: SACU revenue | 30.2 | 27.6 | 29.2 | 25.7 | 15.5 | 18.6 | 18.2 | 18.2 | ||
| Of which: grants | 8.6 | 4.8 | 2.1 | 3.7 | 3.6 | 3.5 | 3.3 | 3.2 | ||
| Recurrent expenditure | 44.3 | 47.4 | 45.8 | 49.0 | 47.8 | 46.4 | 46.2 | 46.3 | ||
| of which: wages, including social contributions | 18.9 | 20.9 | 21.6 | 23.1 | 23.6 | 23.5 | 23.4 | 23.4 | ||
| Capital expenditure | 17.2 | 15.5 | 14.1 | 14.3 | 13.4 | 12.7 | 12.8 | 12.7 | ||
| Unidentified fiscal adjustment | … | … | … | … | 3.0 | 6.5 | 7.0 | 7.0 | ||
| Overall balance 6 | 5.0 | −2.5 | 0.6 | −3.2 | −7.4 | 0.0 | 0.0 | 0.0 | ||
| (Excluding grants) | −3.6 | −7.3 | −1.4 | −6.9 | −11.0 | −3.5 | −3.3 | −3.2 | ||
The fiscal year runs from April 1 to March 31.
IMF Information Notice System trade-weighted; end of period.
Reserve coverage of 100 percent of M1 is minimum required under the terms of Common Monetary Area agreement with South Africa.
12-month time deposits rate.
Excluding changes in inventories.
Including additional fiscal measures.
Table 2.Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Fiscal Operations of the Central Government, 2012/13–2019/20 1
(Maloti millions)
The fiscal year runs from April 1 to March 31.
Other taxes are not shown in the table.
New fiscal measures to be introduced in 2016/17 budget.
The remaining balances on non-Treasury accounts at the end of the fiscal year explain the bulk of the statistical discrepancy.
Table 2.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Fiscal Operations of the Central Government, 2012/13–2019/20 1
(Maloti millions)
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Est. | Projections | |||||||||||
| Revenue | 13,150 | 13,274 | 14,575 | 15,592 | 14,345 | 16,102 | 17,725 | 19,253 | ||||||
| Tax revenue 2 | 4,595 | 5,148 | 5,720 | 6,517 | 7,024 | 7,696 | 8,572 | 9,321 | ||||||
| Taxes on income, profits, and capital gain | 2,349 | 2,680 | 3,059 | 3,315 | 3,576 | 3,911 | 4,348 | 4,728 | ||||||
| Taxes on property | 150 | 128 | 139 | 162 | 178 | 193 | 215 | 234 | ||||||
| Taxes on goods and services | 1,819 | 1,887 | 2,344 | 2,758 | 2,974 | 3,268 | 3,648 | 3,962 | ||||||
| Taxes on international trade | 277 | 451 | 177 | 276 | 291 | 320 | 359 | 394 | ||||||
| Grants | 1,703 | 1,047 | 496 | 956 | 1,004 | 1,057 | 1,110 | 1,166 | ||||||
| Budget support | 196 | 149 | 4 | 0 | 0 | 0 | 0 | 0 | ||||||
| Project grants | 1,507 | 898 | 491 | 956 | 1,004 | 1,057 | 1,110 | 1,166 | ||||||
| Of which: MCC | 1,122 | 347 | … | … | … | … | … | … | ||||||
| Non-tax revenue | 885 | 1,025 | 1,325 | 1,450 | 1,798 | 1,656 | 1,840 | 2,021 | ||||||
| Property Income | 109 | 164 | 413 | 489 | 783 | 585 | 651 | 707 | ||||||
| Sales of goods and services | 772 | 856 | 905 | 941 | 1,001 | 1,060 | 1,179 | 1,302 | ||||||
| Other non-tax revenue | 4 | 5 | 8 | 20 | 14 | 10 | 11 | 12 | ||||||
| SACU | 5,966 | 6,055 | 7,034 | 6,668 | 4,519 | 5,693 | 6,203 | 6,745 | ||||||
| Expense | 8,764 | 10,416 | 11,023 | 12,707 | 13,299 | 14,203 | 15,739 | 17,151 | ||||||
| Compensation of employees | 3,749 | 4,589 | 5,211 | 5,978 | 6,573 | 7,184 | 7,979 | 8,672 | ||||||
| Wages and salaries | 3,226 | 3,938 | 4,436 | 5,224 | 5,698 | 6,231 | 6,931 | 7,533 | ||||||
| Social contributions | 522 | 651 | 744 | 755 | 875 | 953 | 1,047 | 1,139 | ||||||
| Use of goods and services | 2,356 | 2,970 | 2,908 | 3,527 | 3,335 | 3,501 | 3,901 | 4,235 | ||||||
| Interest payments | 166 | 192 | 227 | 314 | 430 | 434 | 443 | 530 | ||||||
| Domestic | 85 | 84 | 96 | 141 | 245 | 245 | 215 | 310 | ||||||
| External | 81 | 108 | 131 | 172 | 185 | 189 | 227 | 220 | ||||||
| Subsidies | 253 | 232 | 198 | 281 | 251 | 261 | 290 | 315 | ||||||
| Grants | 882 | 899 | 1,015 | 784 | 833 | 883 | 984 | 1,066 | ||||||
| Social benefits | 611 | 762 | 670 | 937 | 988 | 1,041 | 1,154 | 1,255 | ||||||
| Other expenses | 747 | 772 | 794 | 885 | 890 | 898 | 989 | 1,079 | ||||||
| Gross operating balance | 4,386 | 2,858 | 3,552 | 2,885 | 1,046 | 1,899 | 1,986 | 2,101 | ||||||
| Nonfinancial assets | 3,396 | 3,410 | 3,405 | 3,710 | 3,728 | 3,889 | 4,367 | 4,693 | ||||||
| Domestically financed | 1,627 | 2,169 | 1,962 | 2,280 | 2,405 | 2,529 | 2,873 | 3,108 | ||||||
| Externally financed | 1,770 | 1,241 | 1,443 | 1,430 | 1,324 | 1,360 | 1,494 | 1,585 | ||||||
| Additional fiscal measures 3 | … | … | … | … | 834 | 1,990 | 2,382 | 2,590 | ||||||
| Net lending/borrowing (Overall fiscal balance) | 989 | −552 | 147 | −825 | −1,849 | 1 | 1 | −1 | ||||||
| Transactions in financial assets and liabilities | 1,747 | 77 | 638 | −825 | −1,849 | 1 | 1 | −1 | ||||||
| Financial assets | 1,670 | 341 | 1,501 | 0 | −903 | 248 | 345 | 366 | ||||||
| Domestic | 1,670 | 340 | 1,498 | −1 | −903 | 247 | 344 | 365 | ||||||
| Deposits | 1,670 | 340 | 1,498 | −1 | −903 | 247 | 344 | 365 | ||||||
| Central bank | 1,670 | 333 | 1,498 | −1 | −903 | 247 | 344 | 365 | ||||||
| Commercial banks | 0 | 8 | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Financial liabilities | −77 | 264 | 862 | 825 | 946 | 248 | 344 | 367 | ||||||
| Domestic | −506 | −126 | −103 | 300 | 635 | 0 | 0 | 0 | ||||||
| Foreign | 429 | 390 | 965 | 525 | 311 | 248 | 344 | 367 | ||||||
| Disbursements | 649 | 701 | 1,274 | 930 | 745 | 745 | 828 | 901 | ||||||
| Amortization | −220 | −311 | −309 | −405 | −434 | −497 | −484 | −534 | ||||||
| Statistical discrepancy 4 | −757 | −628 | −491 | 0 | 0 | 0 | 0 | 0 | ||||||
| Memorandum items: | ||||||||||||||
| Overall fiscal balance, excluding SACU revenue | −4,977 | −6,606 | −6,887 | −7,493 | −6,368 | −5,692 | −6,202 | −6,746 | ||||||
| Overall fiscal balance, excluding SACU revenue and | ||||||||||||||
| foreign-financed capital projects | −4,328 | −5,905 | −5,613 | −6,563 | −5,623 | −4,947 | −5,373 | −5,845 | ||||||
The fiscal year runs from April 1 to March 31.
Other taxes are not shown in the table.
New fiscal measures to be introduced in 2016/17 budget.
The remaining balances on non-Treasury accounts at the end of the fiscal year explain the bulk of the statistical discrepancy.
Table 2.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Fiscal Operations of the Central Government, 2012/13–2019/20 1
(Maloti millions)
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Est. | Projections | |||||||||||
| Revenue | 13,150 | 13,274 | 14,575 | 15,592 | 14,345 | 16,102 | 17,725 | 19,253 | ||||||
| Tax revenue 2 | 4,595 | 5,148 | 5,720 | 6,517 | 7,024 | 7,696 | 8,572 | 9,321 | ||||||
| Taxes on income, profits, and capital gain | 2,349 | 2,680 | 3,059 | 3,315 | 3,576 | 3,911 | 4,348 | 4,728 | ||||||
| Taxes on property | 150 | 128 | 139 | 162 | 178 | 193 | 215 | 234 | ||||||
| Taxes on goods and services | 1,819 | 1,887 | 2,344 | 2,758 | 2,974 | 3,268 | 3,648 | 3,962 | ||||||
| Taxes on international trade | 277 | 451 | 177 | 276 | 291 | 320 | 359 | 394 | ||||||
| Grants | 1,703 | 1,047 | 496 | 956 | 1,004 | 1,057 | 1,110 | 1,166 | ||||||
| Budget support | 196 | 149 | 4 | 0 | 0 | 0 | 0 | 0 | ||||||
| Project grants | 1,507 | 898 | 491 | 956 | 1,004 | 1,057 | 1,110 | 1,166 | ||||||
| Of which: MCC | 1,122 | 347 | … | … | … | … | … | … | ||||||
| Non-tax revenue | 885 | 1,025 | 1,325 | 1,450 | 1,798 | 1,656 | 1,840 | 2,021 | ||||||
| Property Income | 109 | 164 | 413 | 489 | 783 | 585 | 651 | 707 | ||||||
| Sales of goods and services | 772 | 856 | 905 | 941 | 1,001 | 1,060 | 1,179 | 1,302 | ||||||
| Other non-tax revenue | 4 | 5 | 8 | 20 | 14 | 10 | 11 | 12 | ||||||
| SACU | 5,966 | 6,055 | 7,034 | 6,668 | 4,519 | 5,693 | 6,203 | 6,745 | ||||||
| Expense | 8,764 | 10,416 | 11,023 | 12,707 | 13,299 | 14,203 | 15,739 | 17,151 | ||||||
| Compensation of employees | 3,749 | 4,589 | 5,211 | 5,978 | 6,573 | 7,184 | 7,979 | 8,672 | ||||||
| Wages and salaries | 3,226 | 3,938 | 4,436 | 5,224 | 5,698 | 6,231 | 6,931 | 7,533 | ||||||
| Social contributions | 522 | 651 | 744 | 755 | 875 | 953 | 1,047 | 1,139 | ||||||
| Use of goods and services | 2,356 | 2,970 | 2,908 | 3,527 | 3,335 | 3,501 | 3,901 | 4,235 | ||||||
| Interest payments | 166 | 192 | 227 | 314 | 430 | 434 | 443 | 530 | ||||||
| Domestic | 85 | 84 | 96 | 141 | 245 | 245 | 215 | 310 | ||||||
| External | 81 | 108 | 131 | 172 | 185 | 189 | 227 | 220 | ||||||
| Subsidies | 253 | 232 | 198 | 281 | 251 | 261 | 290 | 315 | ||||||
| Grants | 882 | 899 | 1,015 | 784 | 833 | 883 | 984 | 1,066 | ||||||
| Social benefits | 611 | 762 | 670 | 937 | 988 | 1,041 | 1,154 | 1,255 | ||||||
| Other expenses | 747 | 772 | 794 | 885 | 890 | 898 | 989 | 1,079 | ||||||
| Gross operating balance | 4,386 | 2,858 | 3,552 | 2,885 | 1,046 | 1,899 | 1,986 | 2,101 | ||||||
| Nonfinancial assets | 3,396 | 3,410 | 3,405 | 3,710 | 3,728 | 3,889 | 4,367 | 4,693 | ||||||
| Domestically financed | 1,627 | 2,169 | 1,962 | 2,280 | 2,405 | 2,529 | 2,873 | 3,108 | ||||||
| Externally financed | 1,770 | 1,241 | 1,443 | 1,430 | 1,324 | 1,360 | 1,494 | 1,585 | ||||||
| Additional fiscal measures 3 | … | … | … | … | 834 | 1,990 | 2,382 | 2,590 | ||||||
| Net lending/borrowing (Overall fiscal balance) | 989 | −552 | 147 | −825 | −1,849 | 1 | 1 | −1 | ||||||
| Transactions in financial assets and liabilities | 1,747 | 77 | 638 | −825 | −1,849 | 1 | 1 | −1 | ||||||
| Financial assets | 1,670 | 341 | 1,501 | 0 | −903 | 248 | 345 | 366 | ||||||
| Domestic | 1,670 | 340 | 1,498 | −1 | −903 | 247 | 344 | 365 | ||||||
| Deposits | 1,670 | 340 | 1,498 | −1 | −903 | 247 | 344 | 365 | ||||||
| Central bank | 1,670 | 333 | 1,498 | −1 | −903 | 247 | 344 | 365 | ||||||
| Commercial banks | 0 | 8 | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Financial liabilities | −77 | 264 | 862 | 825 | 946 | 248 | 344 | 367 | ||||||
| Domestic | −506 | −126 | −103 | 300 | 635 | 0 | 0 | 0 | ||||||
| Foreign | 429 | 390 | 965 | 525 | 311 | 248 | 344 | 367 | ||||||
| Disbursements | 649 | 701 | 1,274 | 930 | 745 | 745 | 828 | 901 | ||||||
| Amortization | −220 | −311 | −309 | −405 | −434 | −497 | −484 | −534 | ||||||
| Statistical discrepancy 4 | −757 | −628 | −491 | 0 | 0 | 0 | 0 | 0 | ||||||
| Memorandum items: | ||||||||||||||
| Overall fiscal balance, excluding SACU revenue | −4,977 | −6,606 | −6,887 | −7,493 | −6,368 | −5,692 | −6,202 | −6,746 | ||||||
| Overall fiscal balance, excluding SACU revenue and | ||||||||||||||
| foreign-financed capital projects | −4,328 | −5,905 | −5,613 | −6,563 | −5,623 | −4,947 | −5,373 | −5,845 | ||||||
The fiscal year runs from April 1 to March 31.
Other taxes are not shown in the table.
New fiscal measures to be introduced in 2016/17 budget.
The remaining balances on non-Treasury accounts at the end of the fiscal year explain the bulk of the statistical discrepancy.
Table 3.Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Fiscal Operations of the Central Government, 2012/13–2019/20 1
(Percent of GDP)
The fiscal year runs from April 1 to March 31.
Other taxes are not shown in the table.
New fiscal measures to be introduced in 2016/17 budget.
The remaining balances on non-Treasury accounts at the end of the fiscal year explain the bulk of the statistical discrepancy.
Table 3.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Fiscal Operations of the Central Government, 2012/13–2019/20 1
(Percent of GDP)
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Projections | ||||||||||||
| Revenue | 66.5 | 60.4 | 60.6 | 60.2 | 51.6 | 52.6 | 52.1 | 52.0 | ||||||
| Tax revenue2 | 23.2 | 23.4 | 23.8 | 25.2 | 25.3 | 25.1 | 25.2 | 25.2 | ||||||
| Taxes on income, profits, and capital gain | 11.9 | 12.2 | 12.7 | 12.8 | 12.9 | 12.8 | 12.8 | 12.8 | ||||||
| Taxes on property | 0.8 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | ||||||
| Taxes on goods and services | 9.2 | 8.6 | 9.7 | 10.6 | 10.7 | 10.7 | 10.7 | 10.7 | ||||||
| Taxes on international trade | 1.4 | 2.1 | 0.7 | 1.1 | 1.0 | 1.0 | 1.1 | 1.1 | ||||||
| Grants | 8.6 | 4.8 | 2.1 | 3.7 | 3.6 | 3.5 | 3.3 | 3.2 | ||||||
| Budget Support | 1.0 | 0.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Project grants | 7.6 | 4.1 | 2.0 | 3.7 | 3.6 | 3.5 | 3.3 | 3.2 | ||||||
| Of which: MCC | 5.7 | 1.6 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Non-tax revenue | 4.5 | 4.7 | 5.5 | 5.6 | 6.5 | 5.4 | 5.4 | 5.5 | ||||||
| Property income | 0.6 | 0.7 | 1.7 | 1.9 | 2.8 | 1.9 | 1.9 | 1.9 | ||||||
| Sales of goods and services | 3.9 | 3.9 | 3.8 | 3.6 | 3.6 | 3.5 | 3.5 | 3.5 | ||||||
| Other non-tax revenue | 0.0 | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| SACU | 30.2 | 27.6 | 29.2 | 25.7 | 16.3 | 18.6 | 18.2 | 18.2 | ||||||
| Expense | 44.3 | 47.4 | 45.8 | 49.0 | 47.8 | 46.4 | 46.2 | 46.3 | ||||||
| Compensation of employees | 18.9 | 20.9 | 21.6 | 23.1 | 23.6 | 23.5 | 23.4 | 23.4 | ||||||
| Wages and salaries | 16.3 | 17.9 | 18.4 | 20.2 | 20.5 | 20.4 | 20.4 | 20.4 | ||||||
| Social contributions | 2.6 | 3.0 | 3.1 | 2.9 | 3.1 | 3.1 | 3.1 | 3.1 | ||||||
| Use of goods and services | 11.9 | 13.5 | 12.1 | 13.6 | 12.0 | 11.4 | 11.5 | 11.4 | ||||||
| Health care | 3.2 | 4.1 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | ||||||
| Interest payments | 0.8 | 0.9 | 0.9 | 1.2 | 1.5 | 1.4 | 1.3 | 1.4 | ||||||
| Domestic | 0.4 | 0.4 | 0.4 | 0.5 | 0.9 | 0.8 | 0.6 | 0.8 | ||||||
| External | 0.4 | 0.5 | 0.5 | 0.7 | 0.7 | 0.6 | 0.7 | 0.6 | ||||||
| Subsidies | 1.3 | 1.1 | 0.8 | 1.1 | 0.9 | 0.9 | 0.9 | 0.9 | ||||||
| Grants | 4.5 | 4.1 | 4.2 | 3.0 | 3.0 | 2.9 | 2.9 | 2.9 | ||||||
| Social benefits | 3.1 | 3.5 | 2.8 | 3.6 | 3.6 | 3.4 | 3.4 | 3.4 | ||||||
| Other expenses | 3.8 | 3.5 | 3.3 | 3.4 | 3.2 | 2.9 | 2.9 | 2.9 | ||||||
| Gross operating balance | 22.2 | 13.0 | 14.8 | 11.1 | 3.8 | 6.2 | 5.8 | 5.7 | ||||||
| Non-financial assets | 17.2 | 15.5 | 14.1 | 14.3 | 13.4 | 12.7 | 12.8 | 12.7 | ||||||
| Domestically financed | 8.2 | 9.9 | 8.2 | 8.8 | 8.6 | 8.3 | 8.4 | 8.4 | ||||||
| Externally financed | 8.9 | 5.6 | 6.0 | 5.5 | 4.8 | 4.4 | 4.4 | 4.3 | ||||||
| Additional fiscal measures 3 | … | … | … | … | 3.0 | 6.5 | 7.0 | 7.0 | ||||||
| Net lending(+)/borrowing (-) (Overall fiscal balance) | 5.0 | −2.5 | 0.6 | −3.2 | −6.6 | 0.0 | 0.0 | 0.0 | ||||||
| Transactions in financial assets and liabilities | 8.8 | 0.3 | 2.7 | −3.2 | −6.6 | 0.0 | 0.0 | 0.0 | ||||||
| Financial assets | 8.4 | 1.6 | 6.2 | 0.0 | −3.2 | 0.8 | 1.0 | 1.0 | ||||||
| Domestic | 8.4 | 1.5 | 6.2 | 0.0 | −3.3 | 0.8 | 1.0 | 1.0 | ||||||
| Deposits | 8.4 | 1.5 | 6.2 | 0.0 | −3.3 | 0.8 | 1.0 | 1.0 | ||||||
| Central bank | 8.4 | 1.5 | 6.2 | 0.0 | −3.3 | 0.8 | 1.0 | 1.0 | ||||||
| Commercial banks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Loans | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Financial liabilities | −0.4 | 1.2 | 3.6 | 3.2 | 3.4 | 0.8 | 1.0 | 1.0 | ||||||
| Domestic | −2.6 | −0.6 | −0.4 | 1.2 | 2.3 | 0.0 | 0.0 | 0.0 | ||||||
| Foreign | 2.2 | 1.8 | 4.0 | 2.0 | 1.1 | 0.8 | 1.0 | 1.0 | ||||||
| Disbursements | 3.3 | 3.2 | 5.3 | 3.6 | 2.7 | 2.4 | 2.4 | 2.4 | ||||||
| Amortization | −1.1 | −1.4 | −1.3 | −1.6 | −1.6 | −1.6 | −1.4 | −1.4 | ||||||
| Statistical discrepancy 4 | −3.8 | −2.9 | −2.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Memorandum items: | ||||||||||||||
| Overall fiscal balance, excluding SACU revenues | −25.2 | −30.1 | −28.6 | −28.9 | −22.9 | −18.6 | −18.2 | −18.2 | ||||||
| Overall fiscal balance, excluding SACU revenue and foreign-financed capital projects | −21.9 | −26.9 | −23.3 | −25.3 | −20.2 | −16.2 | −15.8 | −15.8 | ||||||
The fiscal year runs from April 1 to March 31.
Other taxes are not shown in the table.
New fiscal measures to be introduced in 2016/17 budget.
The remaining balances on non-Treasury accounts at the end of the fiscal year explain the bulk of the statistical discrepancy.
Table 3.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Fiscal Operations of the Central Government, 2012/13–2019/20 1
(Percent of GDP)
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Projections | ||||||||||||
| Revenue | 66.5 | 60.4 | 60.6 | 60.2 | 51.6 | 52.6 | 52.1 | 52.0 | ||||||
| Tax revenue2 | 23.2 | 23.4 | 23.8 | 25.2 | 25.3 | 25.1 | 25.2 | 25.2 | ||||||
| Taxes on income, profits, and capital gain | 11.9 | 12.2 | 12.7 | 12.8 | 12.9 | 12.8 | 12.8 | 12.8 | ||||||
| Taxes on property | 0.8 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | ||||||
| Taxes on goods and services | 9.2 | 8.6 | 9.7 | 10.6 | 10.7 | 10.7 | 10.7 | 10.7 | ||||||
| Taxes on international trade | 1.4 | 2.1 | 0.7 | 1.1 | 1.0 | 1.0 | 1.1 | 1.1 | ||||||
| Grants | 8.6 | 4.8 | 2.1 | 3.7 | 3.6 | 3.5 | 3.3 | 3.2 | ||||||
| Budget Support | 1.0 | 0.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Project grants | 7.6 | 4.1 | 2.0 | 3.7 | 3.6 | 3.5 | 3.3 | 3.2 | ||||||
| Of which: MCC | 5.7 | 1.6 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Non-tax revenue | 4.5 | 4.7 | 5.5 | 5.6 | 6.5 | 5.4 | 5.4 | 5.5 | ||||||
| Property income | 0.6 | 0.7 | 1.7 | 1.9 | 2.8 | 1.9 | 1.9 | 1.9 | ||||||
| Sales of goods and services | 3.9 | 3.9 | 3.8 | 3.6 | 3.6 | 3.5 | 3.5 | 3.5 | ||||||
| Other non-tax revenue | 0.0 | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| SACU | 30.2 | 27.6 | 29.2 | 25.7 | 16.3 | 18.6 | 18.2 | 18.2 | ||||||
| Expense | 44.3 | 47.4 | 45.8 | 49.0 | 47.8 | 46.4 | 46.2 | 46.3 | ||||||
| Compensation of employees | 18.9 | 20.9 | 21.6 | 23.1 | 23.6 | 23.5 | 23.4 | 23.4 | ||||||
| Wages and salaries | 16.3 | 17.9 | 18.4 | 20.2 | 20.5 | 20.4 | 20.4 | 20.4 | ||||||
| Social contributions | 2.6 | 3.0 | 3.1 | 2.9 | 3.1 | 3.1 | 3.1 | 3.1 | ||||||
| Use of goods and services | 11.9 | 13.5 | 12.1 | 13.6 | 12.0 | 11.4 | 11.5 | 11.4 | ||||||
| Health care | 3.2 | 4.1 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | ||||||
| Interest payments | 0.8 | 0.9 | 0.9 | 1.2 | 1.5 | 1.4 | 1.3 | 1.4 | ||||||
| Domestic | 0.4 | 0.4 | 0.4 | 0.5 | 0.9 | 0.8 | 0.6 | 0.8 | ||||||
| External | 0.4 | 0.5 | 0.5 | 0.7 | 0.7 | 0.6 | 0.7 | 0.6 | ||||||
| Subsidies | 1.3 | 1.1 | 0.8 | 1.1 | 0.9 | 0.9 | 0.9 | 0.9 | ||||||
| Grants | 4.5 | 4.1 | 4.2 | 3.0 | 3.0 | 2.9 | 2.9 | 2.9 | ||||||
| Social benefits | 3.1 | 3.5 | 2.8 | 3.6 | 3.6 | 3.4 | 3.4 | 3.4 | ||||||
| Other expenses | 3.8 | 3.5 | 3.3 | 3.4 | 3.2 | 2.9 | 2.9 | 2.9 | ||||||
| Gross operating balance | 22.2 | 13.0 | 14.8 | 11.1 | 3.8 | 6.2 | 5.8 | 5.7 | ||||||
| Non-financial assets | 17.2 | 15.5 | 14.1 | 14.3 | 13.4 | 12.7 | 12.8 | 12.7 | ||||||
| Domestically financed | 8.2 | 9.9 | 8.2 | 8.8 | 8.6 | 8.3 | 8.4 | 8.4 | ||||||
| Externally financed | 8.9 | 5.6 | 6.0 | 5.5 | 4.8 | 4.4 | 4.4 | 4.3 | ||||||
| Additional fiscal measures 3 | … | … | … | … | 3.0 | 6.5 | 7.0 | 7.0 | ||||||
| Net lending(+)/borrowing (-) (Overall fiscal balance) | 5.0 | −2.5 | 0.6 | −3.2 | −6.6 | 0.0 | 0.0 | 0.0 | ||||||
| Transactions in financial assets and liabilities | 8.8 | 0.3 | 2.7 | −3.2 | −6.6 | 0.0 | 0.0 | 0.0 | ||||||
| Financial assets | 8.4 | 1.6 | 6.2 | 0.0 | −3.2 | 0.8 | 1.0 | 1.0 | ||||||
| Domestic | 8.4 | 1.5 | 6.2 | 0.0 | −3.3 | 0.8 | 1.0 | 1.0 | ||||||
| Deposits | 8.4 | 1.5 | 6.2 | 0.0 | −3.3 | 0.8 | 1.0 | 1.0 | ||||||
| Central bank | 8.4 | 1.5 | 6.2 | 0.0 | −3.3 | 0.8 | 1.0 | 1.0 | ||||||
| Commercial banks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Loans | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Financial liabilities | −0.4 | 1.2 | 3.6 | 3.2 | 3.4 | 0.8 | 1.0 | 1.0 | ||||||
| Domestic | −2.6 | −0.6 | −0.4 | 1.2 | 2.3 | 0.0 | 0.0 | 0.0 | ||||||
| Foreign | 2.2 | 1.8 | 4.0 | 2.0 | 1.1 | 0.8 | 1.0 | 1.0 | ||||||
| Disbursements | 3.3 | 3.2 | 5.3 | 3.6 | 2.7 | 2.4 | 2.4 | 2.4 | ||||||
| Amortization | −1.1 | −1.4 | −1.3 | −1.6 | −1.6 | −1.6 | −1.4 | −1.4 | ||||||
| Statistical discrepancy 4 | −3.8 | −2.9 | −2.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Memorandum items: | ||||||||||||||
| Overall fiscal balance, excluding SACU revenues | −25.2 | −30.1 | −28.6 | −28.9 | −22.9 | −18.6 | −18.2 | −18.2 | ||||||
| Overall fiscal balance, excluding SACU revenue and foreign-financed capital projects | −21.9 | −26.9 | −23.3 | −25.3 | −20.2 | −16.2 | −15.8 | −15.8 | ||||||
The fiscal year runs from April 1 to March 31.
Other taxes are not shown in the table.
New fiscal measures to be introduced in 2016/17 budget.
The remaining balances on non-Treasury accounts at the end of the fiscal year explain the bulk of the statistical discrepancy.
Table 4.Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Monetary Accounts, 2013–20 1, 2
(Maloti millions; unless otherwise indicated)
The fiscal year runs from April 1 to March 31.
Including valuation changes.
Table 4.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Monetary Accounts, 2013–20 1, 2
(Maloti millions; unless otherwise indicated)
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Act. | Projections | |||||||||
| I. Despository corporations survey | ||||||||||||
| Net foreign assets | 10,123 | 12,871 | 14,877 | 14,393 | 13,289 | 14,269 | 15,474 | |||||
| Central bank | 7,985 | 8,955 | 11,131 | 11,365 | 10,719 | 11,259 | 11,937 | |||||
| Commercial banks | 2,138 | 3,915 | 3,746 | 3,029 | 2,570 | 3,009 | 3,538 | |||||
| Net domestic assets | −3,201 | −3,766 | −5,660 | −5,112 | −3,196 | −3,065 | −2,916 | |||||
| Central bank | −6,783 | −7,570 | −9,632 | −9,737 | −8,957 | −9,307 | −9,752 | |||||
| Commercial banks | 3,974 | 4,341 | 4,530 | 5,153 | 6,330 | 6,871 | 7,543 | |||||
| Claims on central government (net) | −3,423 | −3,569 | −5,153 | −4,852 | −3,098 | −3,345 | −3,688 | |||||
| Central bank | −4,238 | −4,250 | −5,731 | −5,729 | −4,825 | −5,072 | −5,416 | |||||
| Commercial banks | 815 | 681 | 578 | 878 | 1,728 | 1,728 | 1,728 | |||||
| Claims on private sector | 4,136 | 4,562 | 5,101 | 5,567 | 6,055 | 6,759 | 7,602 | |||||
| Other items (net) | −3,926 | −4,771 | −5,623 | −5,841 | −6,169 | −6,496 | −6,847 | |||||
| Broad money (M2) | 6,922 | 9,105 | 8,564 | 9,282 | 10,093 | 11,203 | 12,559 | |||||
| Currency outside banks | 792 | 840 | 907 | 1,040 | 1,127 | 1,250 | 1,396 | |||||
| Deposits | 6,130 | 8,265 | 7,657 | 8,242 | 8,966 | 9,953 | 11,163 | |||||
| II. Central Bank | ||||||||||||
| Net foreign assets | 7,985 | 8,955 | 11,131 | 11,365 | 10,719 | 11,259 | 11,937 | |||||
| Gross reserves | 9,008 | 10,326 | 12,533 | 12,959 | 12,376 | 12,971 | 13,702 | |||||
| Net domestic assets | −6,783 | −7,570 | −9,632 | −9,737 | −8,957 | −9,307 | −9,752 | |||||
| Claims on central government (net) | −4,238 | −4,250 | −5,731 | −5,729 | −4,825 | −5,072 | −5,416 | |||||
| Claims on private sector | 45 | 52 | 61 | 66 | 70 | 78 | 86 | |||||
| Other items (net) 2 | −2,591 | −3,373 | −3,963 | −4,073 | −4,202 | −4,312 | −4,422 | |||||
| Reserve money | 1,202 | 1,385 | 1,499 | 1,628 | 1,762 | 1,953 | 2,184 | |||||
| Currency in circulation | 945 | 984 | 1,093 | 1,187 | 1,285 | 1,424 | 1,592 | |||||
| Commercial bank deposits | 257 | 401 | 406 | 441 | 478 | 529 | 592 | |||||
| Memorandum items: | (12-month percentage change; unless otherwise indicated) | |||||||||||
| Reserve money | −1.9 | 15.2 | 8.2 | 8.6 | 8.3 | 10.8 | 11.8 | |||||
| Broad money | 6.1 | 31.5 | −5.9 | 8.4 | 8.7 | 11.0 | 12.1 | |||||
| Narrow money | 21.8 | 24.1 | 3.8 | 8.4 | 8.7 | 11.0 | 12.1 | |||||
| Narrow money (M1) (Maloti millions) | 3,356 | 4,164 | 4,322 | 4,684 | 5,093 | 5,653 | 6,337 | |||||
| Credit to the private sector | 42.2 | 10.3 | 11.8 | 9.1 | 8.8 | 11.6 | 12.5 | |||||
| Credit to the private sector (percent of GDP) | 21.5 | 20.6 | 21.2 | 21.5 | 21.8 | 22.1 | 22.3 | |||||
| Velocity (GDP/broad money) | 2.8 | 2.4 | 2.8 | 2.8 | 2.8 | 2.7 | 2.7 | |||||
The fiscal year runs from April 1 to March 31.
Including valuation changes.
Table 4.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Monetary Accounts, 2013–20 1, 2
(Maloti millions; unless otherwise indicated)
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Act. | Projections | |||||||||
| I. Despository corporations survey | ||||||||||||
| Net foreign assets | 10,123 | 12,871 | 14,877 | 14,393 | 13,289 | 14,269 | 15,474 | |||||
| Central bank | 7,985 | 8,955 | 11,131 | 11,365 | 10,719 | 11,259 | 11,937 | |||||
| Commercial banks | 2,138 | 3,915 | 3,746 | 3,029 | 2,570 | 3,009 | 3,538 | |||||
| Net domestic assets | −3,201 | −3,766 | −5,660 | −5,112 | −3,196 | −3,065 | −2,916 | |||||
| Central bank | −6,783 | −7,570 | −9,632 | −9,737 | −8,957 | −9,307 | −9,752 | |||||
| Commercial banks | 3,974 | 4,341 | 4,530 | 5,153 | 6,330 | 6,871 | 7,543 | |||||
| Claims on central government (net) | −3,423 | −3,569 | −5,153 | −4,852 | −3,098 | −3,345 | −3,688 | |||||
| Central bank | −4,238 | −4,250 | −5,731 | −5,729 | −4,825 | −5,072 | −5,416 | |||||
| Commercial banks | 815 | 681 | 578 | 878 | 1,728 | 1,728 | 1,728 | |||||
| Claims on private sector | 4,136 | 4,562 | 5,101 | 5,567 | 6,055 | 6,759 | 7,602 | |||||
| Other items (net) | −3,926 | −4,771 | −5,623 | −5,841 | −6,169 | −6,496 | −6,847 | |||||
| Broad money (M2) | 6,922 | 9,105 | 8,564 | 9,282 | 10,093 | 11,203 | 12,559 | |||||
| Currency outside banks | 792 | 840 | 907 | 1,040 | 1,127 | 1,250 | 1,396 | |||||
| Deposits | 6,130 | 8,265 | 7,657 | 8,242 | 8,966 | 9,953 | 11,163 | |||||
| II. Central Bank | ||||||||||||
| Net foreign assets | 7,985 | 8,955 | 11,131 | 11,365 | 10,719 | 11,259 | 11,937 | |||||
| Gross reserves | 9,008 | 10,326 | 12,533 | 12,959 | 12,376 | 12,971 | 13,702 | |||||
| Net domestic assets | −6,783 | −7,570 | −9,632 | −9,737 | −8,957 | −9,307 | −9,752 | |||||
| Claims on central government (net) | −4,238 | −4,250 | −5,731 | −5,729 | −4,825 | −5,072 | −5,416 | |||||
| Claims on private sector | 45 | 52 | 61 | 66 | 70 | 78 | 86 | |||||
| Other items (net) 2 | −2,591 | −3,373 | −3,963 | −4,073 | −4,202 | −4,312 | −4,422 | |||||
| Reserve money | 1,202 | 1,385 | 1,499 | 1,628 | 1,762 | 1,953 | 2,184 | |||||
| Currency in circulation | 945 | 984 | 1,093 | 1,187 | 1,285 | 1,424 | 1,592 | |||||
| Commercial bank deposits | 257 | 401 | 406 | 441 | 478 | 529 | 592 | |||||
| Memorandum items: | (12-month percentage change; unless otherwise indicated) | |||||||||||
| Reserve money | −1.9 | 15.2 | 8.2 | 8.6 | 8.3 | 10.8 | 11.8 | |||||
| Broad money | 6.1 | 31.5 | −5.9 | 8.4 | 8.7 | 11.0 | 12.1 | |||||
| Narrow money | 21.8 | 24.1 | 3.8 | 8.4 | 8.7 | 11.0 | 12.1 | |||||
| Narrow money (M1) (Maloti millions) | 3,356 | 4,164 | 4,322 | 4,684 | 5,093 | 5,653 | 6,337 | |||||
| Credit to the private sector | 42.2 | 10.3 | 11.8 | 9.1 | 8.8 | 11.6 | 12.5 | |||||
| Credit to the private sector (percent of GDP) | 21.5 | 20.6 | 21.2 | 21.5 | 21.8 | 22.1 | 22.3 | |||||
| Velocity (GDP/broad money) | 2.8 | 2.4 | 2.8 | 2.8 | 2.8 | 2.7 | 2.7 | |||||
The fiscal year runs from April 1 to March 31.
Including valuation changes.
Table 5.Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Balance of Payments, 2012/13–2019/201
(US$ millions; unless otherwise indicated)
The fiscal year runs from April 1 to March 31.
Table 5.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Balance of Payments, 2012/13–2019/201
(US$ millions; unless otherwise indicated)
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Est. | Projections | ||||||||||||
| Current account | −237 | −235 | −176 | −128 | −292 | −167 | −221 | −205 | |||||||
| Trade balance | −1,189 | −1,053 | −979 | −838 | −819 | −781 | −819 | −828 | |||||||
| Exports, f.o.b. | 979 | 820 | 814 | 773 | 812 | 924 | 1,005 | 1,080 | |||||||
| Imports, f.o.b | −2,169 | −1,873 | −1,793 | −1,611 | −1,632 | −1,706 | −1,824 | −1,908 | |||||||
| Services (net) | −388 | −327 | −302 | −237 | −225 | −227 | −234 | −239 | |||||||
| Income (net) | 417 | 349 | 315 | 283 | 265 | 246 | 251 | 250 | |||||||
| Of which: interest on public debt | −10 | −11 | −12 | −13 | −13 | −13 | −7 | −10 | |||||||
| Transfers | 923 | 796 | 791 | 665 | 488 | 595 | 581 | 612 | |||||||
| Official transfers | 764 | 652 | 657 | 541 | 362 | 467 | 478 | 504 | |||||||
| Of which: SACU revenue | 696 | 609 | 622 | 518 | 322 | 412 | 435 | 459 | |||||||
| Other transfers | 159 | 144 | 134 | 124 | 126 | 128 | 103 | 108 | |||||||
| Capital and financial account | 334 | 33 | 251 | 161 | 248 | 210 | 272 | 255 | |||||||
| Capital account | 151 | 73 | 49 | 59 | 94 | 124 | 166 | 150 | |||||||
| Financial account | 183 | −40 | 202 | 103 | 154 | 87 | 106 | 105 | |||||||
| Foreign direct | 55 | 49 | 45 | 52 | 52 | 48 | 51 | 54 | |||||||
| Portfolio investment | −3 | −3 | −2 | −2 | 15 | 14 | 0 | 0 | |||||||
| Other investment | 131 | −87 | 160 | 53 | 88 | 25 | 54 | 51 | |||||||
| Medium and long-term | 131 | −87 | 160 | 53 | 88 | 25 | 54 | 51 | |||||||
| Of which: | |||||||||||||||
| Public sector (net) | 50 | 39 | 85 | 41 | 23 | 18 | 24 | 25 | |||||||
| Disbursements | 76 | 70 | 113 | 72 | 56 | 54 | 58 | 61 | |||||||
| Central government | 76 | 70 | 113 | 72 | 56 | 54 | 58 | 61 | |||||||
| Other public sector | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Amortization | −26 | −31 | −27 | −31 | −32 | −36 | −34 | −36 | |||||||
| Short-term | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Errors and omissions | −184 | −325 | −118 | 0 | 0 | 0 | 0 | 0 | |||||||
| Overall balance | 281 | 123 | 194 | 33 | −44 | 43 | 51 | 50 | |||||||
| Financing | −281 | −123 | −194 | −33 | 44 | −43 | −51 | −50 | |||||||
| Exceptional financing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Memorandum items: | (Percent of GDP) | ||||||||||||||
| Current account | −10.3 | −10.6 | −8.3 | −6.4 | −14.0 | −7.5 | −9.2 | −8.0 | |||||||
| Trade balance | −51.5 | −47.7 | −46.0 | −41.6 | −39.4 | −35.0 | −34.2 | −32.2 | |||||||
| Capital and financial account | 14.5 | 1.5 | 11.8 | 8.0 | 11.9 | 9.4 | 11.4 | 9.9 | |||||||
| Overall balance | 12.2 | 5.6 | 9.1 | 1.6 | −2.1 | 1.9 | 2.1 | 1.9 | |||||||
| Official grants | 33.1 | 29.5 | 30.9 | 26.8 | 17.4 | 21.1 | 20.0 | 20.0 | |||||||
| Gross international reserves | |||||||||||||||
| (US$ millions) | 990 | 959 | 1,037 | 957 | 885 | 901 | 925 | 947 | |||||||
| (Months of imports) | 4.9 | 5.2 | 6.3 | 6.3 | 5.6 | 5.4 | 5.3 | 5.3 | |||||||
| (in percent of M1) | 268 | 248 | 290 | 281 | 248 | 235 | 222 | 213 | |||||||
The fiscal year runs from April 1 to March 31.
Table 5.
Sources: Lesotho authorities and IMF staff estimates and projections.
Lesotho: Balance of Payments, 2012/13–2019/201
(US$ millions; unless otherwise indicated)
| 2012/13 | 2013/14 | 2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act. | Act. | Est. | Projections | ||||||||||||
| Current account | −237 | −235 | −176 | −128 | −292 | −167 | −221 | −205 | |||||||
| Trade balance | −1,189 | −1,053 | −979 | −838 | −819 | −781 | −819 | −828 | |||||||
| Exports, f.o.b. | 979 | 820 | 814 | 773 | 812 | 924 | 1,005 | 1,080 | |||||||
| Imports, f.o.b | −2,169 | −1,873 | −1,793 | −1,611 | −1,632 | −1,706 | −1,824 | −1,908 | |||||||
| Services (net) | −388 | −327 | −302 | −237 | −225 | −227 | −234 | −239 | |||||||
| Income (net) | 417 | 349 | 315 | 283 | 265 | 246 | 251 | 250 | |||||||
| Of which: interest on public debt | −10 | −11 | −12 | −13 | −13 | −13 | −7 | −10 | |||||||
| Transfers | 923 | 796 | 791 | 665 | 488 | 595 | 581 | 612 | |||||||
| Official transfers | 764 | 652 | 657 | 541 | 362 | 467 | 478 | 504 | |||||||
| Of which: SACU revenue | 696 | 609 | 622 | 518 | 322 | 412 | 435 | 459 | |||||||
| Other transfers | 159 | 144 | 134 | 124 | 126 | 128 | 103 | 108 | |||||||
| Capital and financial account | 334 | 33 | 251 | 161 | 248 | 210 | 272 | 255 | |||||||
| Capital account | 151 | 73 | 49 | 59 | 94 | 124 | 166 | 150 | |||||||
| Financial account | 183 | −40 | 202 | 103 | 154 | 87 | 106 | 105 | |||||||
| Foreign direct | 55 | 49 | 45 | 52 | 52 | 48 | 51 | 54 | |||||||
| Portfolio investment | −3 | −3 | −2 | −2 | 15 | 14 | 0 | 0 | |||||||
| Other investment | 131 | −87 | 160 | 53 | 88 | 25 | 54 | 51 | |||||||
| Medium and long-term | 131 | −87 | 160 | 53 | 88 | 25 | 54 | 51 | |||||||
| Of which: | |||||||||||||||
| Public sector (net) | 50 | 39 | 85 | 41 | 23 | 18 | 24 | 25 | |||||||
| Disbursements | 76 | 70 | 113 | 72 | 56 | 54 | 58 | 61 | |||||||
| Central government | 76 | 70 | 113 | 72 | 56 | 54 | 58 | 61 | |||||||
| Other public sector | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Amortization | −26 | −31 | −27 | −31 | −32 | −36 | −34 | −36 | |||||||
| Short-term | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Errors and omissions | −184 | −325 | −118 | 0 | 0 | 0 | 0 | 0 | |||||||
| Overall balance | 281 | 123 | 194 | 33 | −44 | 43 | 51 | 50 | |||||||
| Financing | −281 | −123 | −194 | −33 | 44 | −43 | −51 | −50 | |||||||
| Exceptional financing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Memorandum items: | (Percent of GDP) | ||||||||||||||
| Current account | −10.3 | −10.6 | −8.3 | −6.4 | −14.0 | −7.5 | −9.2 | −8.0 | |||||||
| Trade balance | −51.5 | −47.7 | −46.0 | −41.6 | −39.4 | −35.0 | −34.2 | −32.2 | |||||||
| Capital and financial account | 14.5 | 1.5 | 11.8 | 8.0 | 11.9 | 9.4 | 11.4 | 9.9 | |||||||
| Overall balance | 12.2 | 5.6 | 9.1 | 1.6 | −2.1 | 1.9 | 2.1 | 1.9 | |||||||
| Official grants | 33.1 | 29.5 | 30.9 | 26.8 | 17.4 | 21.1 | 20.0 | 20.0 | |||||||
| Gross international reserves | |||||||||||||||
| (US$ millions) | 990 | 959 | 1,037 | 957 | 885 | 901 | 925 | 947 | |||||||
| (Months of imports) | 4.9 | 5.2 | 6.3 | 6.3 | 5.6 | 5.4 | 5.3 | 5.3 | |||||||
| (in percent of M1) | 268 | 248 | 290 | 281 | 248 | 235 | 222 | 213 | |||||||
The fiscal year runs from April 1 to March 31.
Table 6.Source: World Development Indicators.
Lesotho: Millennium Development Goals
Table 6.
Source: World Development Indicators.
Lesotho: Millennium Development Goals
| 1990 | 1995 | 2000 | 2005 | 2012 | ||
|---|---|---|---|---|---|---|
| Goal 1: Eradicate extreme poverty and hunger | ||||||
| Employment to population ratio, 15+, total (%) | 48.0 | 50.0 | 46.0 | 43.0 | 48.0 | |
| Employment to population ratio, ages 15–24, total (%) | 39.0 | 40.0 | 34.0 | 29.0 | 29.0 | |
| GDP per person employed (constant 1990 PPP $) | .. | .. | .. | .. | .. | |
| Income share held by lowest 20% | .. | 1.0 | .. | 3.0 | .. | |
| Malnutrition prevalence, weight for age (% of children under 5) | .. | .. | 15.0 | 17.0 | .. | |
| Poverty gap at $1.25 a day (PPP) (%) | .. | 26.0 | .. | 21.0 | .. | |
| Poverty headcount ratio at $1.25 a day (PPP) (% of population) | .. | 46.0 | .. | 43.0 | .. | |
| Vulnerable employment, total (% of total employment) | .. | .. | 69.0 | .. | .. | |
| Goal 2: Achieve universal primary education | ||||||
| Literacy rate, youth female (% of females ages 15–24) | .. | .. | 97.0 | .. | .. | |
| Literacy rate, youth male (% of males ages 15–24) | .. | .. | 85.0 | .. | .. | |
| Persistence to last grade of primary, total (% of cohort) | .. | .. | 55.0 | 63.0 | .. | |
| Primary completion rate, total (% of relevant age group) | 58.0 | 64.0 | 60.0 | 60.0 | 72.0 | |
| Total enrollment, primary (% net) | 71.0 | 68.0 | 78.0 | 75.0 | 82.0 | |
| Goal 3: Promote gender equality and empower women | ||||||
| Proportion of seats held by women in national parliaments (%) | .. | 5.0 | 4.0 | 12.0 | 27.0 | |
| Ratio of female to male primary enrollment (%) | 122.0 | 112.0 | 104.0 | 100.0 | 98.0 | |
| Ratio of female to male secondary enrollment (%) | 146.0 | 142.0 | 132.0 | 127.0 | 139.0 | |
| Ratio of female to male tertiary enrollment (%) | 125.0 | 112.0 | 162.0 | 134.0 | 151.0 | |
| Goal 4: Reduce child mortality | ||||||
| Immunization, measles (% of children ages 12–23 months) | 80.0 | 83.0 | 74.0 | 85.0 | 85.0 | |
| Mortality rate, infant (per 1,000 live births) | 72.0 | 77.0 | 88.0 | 83.0 | 74.0 | |
| Mortality rate, under-5 (per 1,000) | 89.0 | 99.0 | 127.0 | 121.0 | 100.0 | |
| Goal 5: Improve maternal health | ||||||
| Adolescent fertility rate (births per 1,000 women ages 15–19) | 83.0 | 91.0 | 91.0 | 90.0 | 89.5 | |
| Births attended by skilled health staff (% of total) | .. | .. | 60.0 | .. | .. | |
| Contraceptive prevalence (% of women ages 15–49) | .. | 29.0 | 30.0 | 37.0 | 47.0 | |
| Maternal mortality ratio (modeled estimate, per 100,000 live births) | 520.0 | 540.0 | 690.0 | 720.0 | 620.0 | |
| Pregnant women receiving prenatal care (%) | .. | 88.0 | 85.0 | 90.4 | 92.8 | |
| Unmet need for contraception (% of married women ages 15–49) | .. | .. | .. | .. | .. | |
| Goal 6: Combat HIV/AIDS, malaria, and other diseases | ||||||
| Condom use, population ages 15-24, female (% of females ages 15–24) | .. | .. | .. | .. | .. | |
| Condom use, population ages 15-24, male (% of males ages 15–24) | .. | .. | .. | .. | .. | |
| Incidence of tuberculosis (per 100,000 people) | 184.0 | 323.0 | 553.0 | 639.0 | 630.0 | |
| Prevalence of HIV, female (% ages 15–24) | .. | .. | .. | .. | 10.7 | |
| Prevalence of HIV, male (% ages 15–24) | .. | .. | .. | .. | 5.8 | |
| Prevalence of HIV, total (% of population ages 15–49) | 0.8 | 11.5 | 22.9 | 22.7 | 23.1 | |
| Tuberculosis case detection rate (%, all forms) | 86.0 | 91.0 | 95.0 | 88.0 | 83.0 | |
| Goal 7: Ensure environmental sustainability | ||||||
| CO2 emissions (kg per PPP $ of GDP) | .. | .. | .. | .. | .. | |
| CO2 emissions (metric tons per capita) | .. | .. | .. | .. | .. | |
| Forest area (% of land area) | 1.3 | 1.4 | 1.4 | 1.4 | .. | |
| Improved sanitation facilities (% of population with access) | .. | 24.0 | 25.0 | 26.0 | .. | |
| Improved water source (% of population with access) | 80.0 | 80.0 | 80.0 | 79.0 | .. | |
| Marine protected areas (% of territorial waters) | .. | .. | .. | .. | 1.8 | |
| Net ODA received per capita (current US$) | 87.0 | 64.0 | 20.0 | 35.0 | .. | |
| Goal 8: Develop a global partnership for development | ||||||
| Debt service (PPG and IMF only, % of exports, excl. workers’ remittances) | 4.0 | 6.0 | 7.0 | 6.0 | .. | |
| Internet users (per 100 people) | 0.0 | 0.0 | 0.2 | 2.6 | 4.6 | |
| Mobile cellular subscriptions (per 100 people) | 0.0 | 0.0 | 1.0 | 12.0 | 59.0 | |
| Telephone lines (per 100 people) | 1.0 | 1.0 | 1.0 | 2.0 | 2.0 | |
| Fertility rate, total (births per woman) | 5.0 | 5.0 | 4.0 | 4.0 | 3.0 | |
| Other | ||||||
| GNI per capita, Atlas method (current US$) | 550.0 | 660.0 | 580.0 | 910.0 | 1,380.0 | |
| GNI, Atlas method (current US$) (billions) | 0.9 | 1.2 | 1.1 | 1.8 | 2.8 | |
| Gross capital formation (% of GDP) | 55.7 | 72.4 | 41.3 | 22.0 | 31.8 | |
| Life expectancy at birth, total (years) | 59.0 | 57.0 | 48.0 | 44.0 | .. | |
| Literacy rate, adult total (% of people ages 15 and above) | .. | .. | 86.0 | .. | .. | |
| Population, total (billions) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Trade (% of GDP) | 140.3 | 143.7 | 169.6 | 169.7 | 154.5 | |
Table 6.
Lesotho: Millennium Development Goals
| 1990 | 1995 | 2000 | 2005 | 2012 | ||
|---|---|---|---|---|---|---|
| Goal 1: Eradicate extreme poverty and hunger | ||||||
| Employment to population ratio, 15+, total (%) | 48.0 | 50.0 | 46.0 | 43.0 | 48.0 | |
| Employment to population ratio, ages 15–24, total (%) | 39.0 | 40.0 | 34.0 | 29.0 | 29.0 | |
| GDP per person employed (constant 1990 PPP $) | .. | .. | .. | .. | .. | |
| Income share held by lowest 20% | .. | 1.0 | .. | 3.0 | .. | |
| Malnutrition prevalence, weight for age (% of children under 5) | .. | .. | 15.0 | 17.0 | .. | |
| Poverty gap at $1.25 a day (PPP) (%) | .. | 26.0 | .. | 21.0 | .. | |
| Poverty headcount ratio at $1.25 a day (PPP) (% of population) | .. | 46.0 | .. | 43.0 | .. | |
| Vulnerable employment, total (% of total employment) | .. | .. | 69.0 | .. | .. | |
| Goal 2: Achieve universal primary education | ||||||
| Literacy rate, youth female (% of females ages 15–24) | .. | .. | 97.0 | .. | .. | |
| Literacy rate, youth male (% of males ages 15–24) | .. | .. | 85.0 | .. | .. | |
| Persistence to last grade of primary, total (% of cohort) | .. | .. | 55.0 | 63.0 | .. | |
| Primary completion rate, total (% of relevant age group) | 58.0 | 64.0 | 60.0 | 60.0 | 72.0 | |
| Total enrollment, primary (% net) | 71.0 | 68.0 | 78.0 | 75.0 | 82.0 | |
| Goal 3: Promote gender equality and empower women | ||||||
| Proportion of seats held by women in national parliaments (%) | .. | 5.0 | 4.0 | 12.0 | 27.0 | |
| Ratio of female to male primary enrollment (%) | 122.0 | 112.0 | 104.0 | 100.0 | 98.0 | |
| Ratio of female to male secondary enrollment (%) | 146.0 | 142.0 | 132.0 | 127.0 | 139.0 | |
| Ratio of female to male tertiary enrollment (%) | 125.0 | 112.0 | 162.0 | 134.0 | 151.0 | |
| Goal 4: Reduce child mortality | ||||||
| Immunization, measles (% of children ages 12–23 months) | 80.0 | 83.0 | 74.0 | 85.0 | 85.0 | |
| Mortality rate, infant (per 1,000 live births) | 72.0 | 77.0 | 88.0 | 83.0 | 74.0 | |
| Mortality rate, under-5 (per 1,000) | 89.0 | 99.0 | 127.0 | 121.0 | 100.0 | |
| Goal 5: Improve maternal health | ||||||
| Adolescent fertility rate (births per 1,000 women ages 15–19) | 83.0 | 91.0 | 91.0 | 90.0 | 89.5 | |
| Births attended by skilled health staff (% of total) | .. | .. | 60.0 | .. | .. | |
| Contraceptive prevalence (% of women ages 15–49) | .. | 29.0 | 30.0 | 37.0 | 47.0 | |
| Maternal mortality ratio (modeled estimate, per 100,000 live births) | 520.0 | 540.0 | 690.0 | 720.0 | 620.0 | |
| Pregnant women receiving prenatal care (%) | .. | 88.0 | 85.0 | 90.4 | 92.8 | |
| Unmet need for contraception (% of married women ages 15–49) | .. | .. | .. | .. | .. | |
| Goal 6: Combat HIV/AIDS, malaria, and other diseases | ||||||
| Condom use, population ages 15-24, female (% of females ages 15–24) | .. | .. | .. | .. | .. | |
| Condom use, population ages 15-24, male (% of males ages 15–24) | .. | .. | .. | .. | .. | |
| Incidence of tuberculosis (per 100,000 people) | 184.0 | 323.0 | 553.0 | 639.0 | 630.0 | |
| Prevalence of HIV, female (% ages 15–24) | .. | .. | .. | .. | 10.7 | |
| Prevalence of HIV, male (% ages 15–24) | .. | .. | .. | .. | 5.8 | |
| Prevalence of HIV, total (% of population ages 15–49) | 0.8 | 11.5 | 22.9 | 22.7 | 23.1 | |
| Tuberculosis case detection rate (%, all forms) | 86.0 | 91.0 | 95.0 | 88.0 | 83.0 | |
| Goal 7: Ensure environmental sustainability | ||||||
| CO2 emissions (kg per PPP $ of GDP) | .. | .. | .. | .. | .. | |
| CO2 emissions (metric tons per capita) | .. | .. | .. | .. | .. | |
| Forest area (% of land area) | 1.3 | 1.4 | 1.4 | 1.4 | .. | |
| Improved sanitation facilities (% of population with access) | .. | 24.0 | 25.0 | 26.0 | .. | |
| Improved water source (% of population with access) | 80.0 | 80.0 | 80.0 | 79.0 | .. | |
| Marine protected areas (% of territorial waters) | .. | .. | .. | .. | 1.8 | |
| Net ODA received per capita (current US$) | 87.0 | 64.0 | 20.0 | 35.0 | .. | |
| Goal 8: Develop a global partnership for development | ||||||
| Debt service (PPG and IMF only, % of exports, excl. workers’ remittances) | 4.0 | 6.0 | 7.0 | 6.0 | .. | |
| Internet users (per 100 people) | 0.0 | 0.0 | 0.2 | 2.6 | 4.6 | |
| Mobile cellular subscriptions (per 100 people) | 0.0 | 0.0 | 1.0 | 12.0 | 59.0 | |
| Telephone lines (per 100 people) | 1.0 | 1.0 | 1.0 | 2.0 | 2.0 | |
| Fertility rate, total (births per woman) | 5.0 | 5.0 | 4.0 | 4.0 | 3.0 | |
| Other | ||||||
| GNI per capita, Atlas method (current US$) | 550.0 | 660.0 | 580.0 | 910.0 | 1,380.0 | |
| GNI, Atlas method (current US$) (billions) | 0.9 | 1.2 | 1.1 | 1.8 | 2.8 | |