Zimbabwe’s annual rate of inflation increased by 10,16 percentage points to 31,01 percent in the month of November from 20.85 percent in October as speculative price increases took their toll on the economy.
Zimbabwe's unemployment rate is a dizzying 90%, 75% of the people are living on US$1.00 a day or less, etc. These are danger warning signs the nation has ignored for years but at its own peril. The economic situation has taken a turn for the worse in the last four months and there is nothing to suggest things are going to get better.
President Mnangagwa and his cronies have failed to come up with even one proposal to suggest the regime realizes the seriousness of the country's problem. All the nation heard throughout the conference in Esigodini was the usual platitude and empty promises.
The country is now in real danger of serious social unrest with people protesting the worsen economic situation.
@ Eddie Cross “In addition to the above factors, the introduction of exchange control and the way it is being administered by the Reserve Bank is having the following effect on local markets and on the productive sector: 1. The use of the artificial exchange rate of 1:1 is taking real value from the foreign earnings of exporters and replacing it with RTGS dollars valued by markets at 3.5 to one. On average this is depreciating the overall earnings of the export sector by more than half. The result is that production levels of all export industries is in decline and gold production is again going back into the informal market where no exchange control influence exists. Official intake of gold has declined by 40 per cent, tobacco plantings are down and major exporters are considering shutting down until the situation corrects itself,” you said. I am not an economists still if “gold intake has declined 40%, tobacco plantings are down, etc., etc.; this is surely not good news to the nation desperate for economic recovery. Yet you are the one who has heaped praise of this regime’s economic policies these last four months! The truth is there is no hope of any meaningful economic recovery in Zimbabwe until the country gets the fundamentals right including ending its pariah state status. All your optimism and confidence in Finance Minister Mthuli Ncube was in fact totally unfounded. This is not the first time you have been hopelessly wrong. Remember the 2008 to 2013 GNU when you and your fellow MDC friends failed to implement even one reform and thus landing us in this mess of Zanu PF blatantly rigging elections we are in to this day! Zimbabwe will be better off if big mouths like you, Mr Cross, would just shut up! All you have ever done is add to the confusion!
“A caring organization would seek solutions for the ongoing doctor’s strike and the crisis in the health sector in its holistic sense including drug shortages. A governing party would seek to find solutions to the recurring cholera outbreaks,” you said.
What are you wittering about, if MDC had implemented the democratic reforms during the GNU Zimbabwe would not be in this mess! You lot participated in the recent elections without even bothering to demand a verified voters roll.
What democratic changes has MDC delivered in all its 19 years in politics?
Zimbabwe’s annual rate of inflation increased by 10,16 percentage points to 31,01 percent in the month of November from 20.85 percent in October as speculative price increases took their toll on the economy.
ReplyDeleteZimbabwe's unemployment rate is a dizzying 90%, 75% of the people are living on US$1.00 a day or less, etc. These are danger warning signs the nation has ignored for years but at its own peril. The economic situation has taken a turn for the worse in the last four months and there is nothing to suggest things are going to get better.
President Mnangagwa and his cronies have failed to come up with even one proposal to suggest the regime realizes the seriousness of the country's problem. All the nation heard throughout the conference in Esigodini was the usual platitude and empty promises.
The country is now in real danger of serious social unrest with people protesting the worsen economic situation.
@ Eddie Cross
ReplyDelete“In addition to the above factors, the introduction of exchange control and the way it is being administered by the Reserve Bank is having the following effect on local markets and on the productive sector:
1. The use of the artificial exchange rate of 1:1 is taking real value from the foreign earnings of exporters and replacing it with RTGS dollars valued by markets at 3.5 to one. On average this is depreciating the overall earnings of the export sector by more than half. The result is that production levels of all export industries is in decline and gold production is again going back into the informal market where no exchange control influence exists. Official intake of gold has declined by 40 per cent, tobacco plantings are down and major exporters are considering shutting down until the situation corrects itself,” you said.
I am not an economists still if “gold intake has declined 40%, tobacco plantings are down, etc., etc.; this is surely not good news to the nation desperate for economic recovery. Yet you are the one who has heaped praise of this regime’s economic policies these last four months!
The truth is there is no hope of any meaningful economic recovery in Zimbabwe until the country gets the fundamentals right including ending its pariah state status. All your optimism and confidence in Finance Minister Mthuli Ncube was in fact totally unfounded.
This is not the first time you have been hopelessly wrong. Remember the 2008 to 2013 GNU when you and your fellow MDC friends failed to implement even one reform and thus landing us in this mess of Zanu PF blatantly rigging elections we are in to this day!
Zimbabwe will be better off if big mouths like you, Mr Cross, would just shut up! All you have ever done is add to the confusion!
“A caring organization would seek solutions for the ongoing doctor’s strike and the crisis in the health sector in its holistic sense including drug shortages. A governing party would seek to find solutions to the recurring cholera outbreaks,” you said.
ReplyDeleteWhat are you wittering about, if MDC had implemented the democratic reforms during the GNU Zimbabwe would not be in this mess! You lot participated in the recent elections without even bothering to demand a verified voters roll.
What democratic changes has MDC delivered in all its 19 years in politics?