By Tendai Guvamombe
Harare, Zimbabwe (News of The South) – From fragility to surge is the current setting commencing in the country’s economic situation which has put the social lives of ordinary people grappling under torrid times at the back of hike in fuel and basic commodities.
A review of the current situation during the month of April shows that prices for basic commodities have been rising up by 12.54 percent with the national economy hitting a 10 year alarming increase of 97.85 percent in May as compared to 75.86 percent recorded previously.
The appalling statistics released lately by the Zimbabwe National Statistical Agency (ZimStats) directly projects a worrisome 100 percent record of inflation to the country’s economy.
The unfortunate trend becomes the worst scenario to be recorded since the 2008 economic doldrums which struck the all the sectors of the economy.
Despite the government’s attempts through the Central Bank to mitigate the current economic doldrums through the inception of RTGs and foreign accounts during the previous Monetary Policy Statements the standards of living for ordinary citizens continues to face an aggravating deterioration.
The socio-economic plight of the ordinary people is further exacerbated by the current pricing system effected by the retailers who are also caught in between the government’s pressing policies and high demand for trade transaction in United States dollars.
Despite the current economic trend the government through the Ministry of Finance and Economic Development has remained optimistic in anticipating a quick economic trajectory.
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