By MAIMBOLWA MULIKELELA? –
ZAMBIA recorded a slump in the production of most major products in the first quarter of this year.
The country recorded reductions in the production of cement, coal and copper, according to the Bank of Zambia.??Central Bank governor Denny Kalyalya said the production of cement declined by 23.1 per cent to 352,033.7 tonnes from 457,624 tonnes in the fourth quarter of 2014.
This was 4.7 per cent lower than the 336,373 tonnes produced in first quarter of 2014??Dr Kalyalya also said the production of coal declined by 22.3 per cent to 35,008 tonnes in the first quarter of 2015 from 45,068 tonnes in the fourth quarter of 2014.

. Dr Kalyalya

Dr Kalyalya said copper production was 16.5 per cent lower in the first quarter of 2015 than the 190,190 tonnes produced in the last quarter of 2014.
He said this was 10 per cent lower than the 179,583.7 tonnes produced in the first quarter of 2014.
Further, the market capitalisation at the Lusaka Stock Exchange (LuSE) dropped by 1.6 per cent in the first quarter of 2015.
He said the level of activity at the stock exchange market declined in the first quarter of 2015.
Dr Kalyalya said the market capitalisation fell by 1.6 per cent to K65, 395.0 million from K66, 456.0 million in the fourth quarter of 2014.
Dr Kalyalya said the supply of foreign exchange on the market declined during the quarter under review as reflected in lower sales of foreign exchange to commercial banks by the public, mining companies and foreign banks.
In addition, the All-Share index at LuSE marginally declined to 6,103.7 from 6,160.7 previously.
Dr Kalyalya said during the first quarter of 2015, domestic credit grew by 12.8 per cent.
He said similarly, the money supply grew by 7.2 per cent compared to four per cent in the fourth quarter of 2014  as a result increased lending to both the private sector and the Government.
Dr Kalyalya said commercial bank’s average lending rate remained unchanged at 20.5 per cent.