Former Minister of Finance and Economic Development, Tendai Biti claimed that Zimbabwe’s rate of inflation will be 400 per cent by year-end.
Biti’s claim follows rampant prices increases which follow that depreciation in value of the RTGS dollar on the alternative market.
Most retailers recently hiked prices of goods leaving the consuming public in dire straits. Writing on social media, Biti said:
The official rate of inflation is now 66% but those trekking the day to day movement of prices will tell you that it is 270%.
In 10 years this regime has taken us through 2 vicious cycles of disequilibrium. It doesn’t need the genius to foresee that year-end inflation will be 400%.
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Tendai Laxton Biti is a politician and currently one of the 3 Vice Presidents of the Movement for Democratic Change (MDC). He was elected the vice presidency in May 2019 at the MDC Congress. Biti is also one of Zimbabwe's most prominent lawyers. Biti is... Read More About Tendai Biti