2018 vs 2019: Are We Better Off Or Worse Off?

Reserve Bank of Zimbabwe (RBZ) deputy director economic affairs and Research Nesbon Mupunga was booed on Tuesday for claiming that Zimbabwe is better off now compared to 2008.

Speaking at a Zimbabwe Council of Churches event in Harare the RBZ official said that Zimbabwe’s economy is improving.

Yes we have challenges in the economy but the economy is also doing very well.

Prices are now beyond the reach of many people, which is a challenge, most people can no longer afford basic goods. But we are also confident that those challenges are being solved and 2019 will not be as bad as what most people are thinking.

We are also happy that goods are still available in shops unlike 2007/8 where we had shortages of basic commodities, goods are still available but the issue is about demand and about affordability.

Mupunga also said that the acceptance of the RTGS dollar in the parallel market is currently not encouraging. He also said that he is hopeful that the trajectory will change for the better going forward.

The RBZ official also urged the congregants to pray for the country and remain positive.

The 2008 hyperinflation reached a record high of 231 million percent as per the official statement. The Zimbabwean dollar was losing its value at an unparalleled rate. Shops were empty as they could not continue trading at a loss. There are fears that at this rate Zimbabwe might be heading back to that era.

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More: newzimbabwe.com

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