Minister of Finance and Economic Development Mthuli Ncube has called for Zimbabweans to be patient warning that speculating will result in people and businesses incurring heavy losses. The minister was referring to the price hikes which occured in the middle of the week after exchange rates for foreign currency soared on the black market. In an interview with state media, the minister said,
…Ordinary Zimbabweans should not go into panic buying of goods and commodities, as prices will drop and they will lose money. Likewise, wholesalers and retailers should not hoard goods in anticipation of obtaining higher prices in future. They will incur loses. I urge everyone to be patient. We will turn around the fundamentals of the economy through various measures contained in the Transitional Stabilisation Programme…The interventions that I have put in place are designed to restore fiscal equilibrium and general macroeconomic and monetary sector stability. This will then create the right environment for growth. The price shocks are temporary but inflation will stabilise as the markets find equilibrium again.
More: Sunday Mail
Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube