Economy of Lesotho
Lesotho is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Lesotho may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Lesotho exports about US$0.94 billion and imports about US$2.15 billion each year. 27.2% of the country's population is unemployed. The total number of unemployed in Lesotho is 615,539. In Lesotho, 57% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Lesotho is very high compared to other nations. This situation points to a number of alarming economic and political factors. It is not advisable to invest in countries with this level of poverty. Government spending on education is 12.4% of GDP. The country's Gini index is 63.2. Lesotho suffers from severe inequality. The gap between the richest and poorest citizens in this country is quite obvious and highly significant, resulting in dramatically different living standards for rich and poor citizens. Lesotho has a Human Development Index (HDI) of 0.486. Lesotho has a lower mean HDI value. This suggests that the majority of citizens will struggle to live a worthwhile life due to flawed economic and social systems. The Global Peace Index (GPI) for Lesotho is 1,891. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Lesotho is very safe in international comparison. The strength of the rights index for Lesotho is 5. Overall, it is considered rather weak – bankruptcy and collateral laws can protect the rights of borrowers and lenders to some extent; Credit information may be sufficient but scarcely available, or conversely available but not sufficient.
Currency
The currency of Lesotho is Lesotho Loti. There are several plural forms of the name "Lesotho loti". These are lotis, maloti. The symbol used for this currency is L and is abbreviated as LSL. The Lesotho Loti are divided into Sente; There are 100 in a loti.
Credit rating
According to rating agency Fitch, Lesotho has a credit rating of BB- and the prospects for this rating are negative.
Central bank
In Lesotho, the institution that administers the state's currency, money supply and interest rates is called the Central Bank of Lesotho. Locally, the central bank of Lesotho is called Banka e Kholo ea Lesotho. The average interest rate on deposits offered by local banks in Lesotho is 2.7%.
National debt
Lesotho has a public debt of 52.4% of the country's gross domestic product (GDP) as estimated in 2011.
Control information
Corporate tax in Lesotho is 25%. Personal income tax ranges from 0% to 30% depending on your specific situation and income level. VAT in Lesotho is 14%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Lesotho is $5575 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Lesotho was last recorded at $2 million. PPP in Lesotho is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Lesotho is 2,230 billion. Based on this statistic, Lesotho is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Lesotho was last recorded at $1 million. The average citizen in Lesotho has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Lesotho averaged 4.3% in 2014. According to this percentage, Lesotho is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health