Finance and Economic Development Minister, Mthuli Ncube has said that prices in RTGS$ are grossly inflated because, in USD he said, prices have generally fallen.
The minister tweeted a table his ministry has prepared to back his point. The table shows the USD prices in shops in January 2018 compared to those in June 2019. The average price decline, Ncube said, is 19%.
Below are some of the reactions to Ncube’s statement, gleaned from Twitter:
The essence of bastardised @ education is to be as far removed from reality as possible. Case in point: @. His capacity to lie with numbers is amazing. Chief Justice Malaba must have had folks like this in mind when he said he prefers facts to numbers! Prof. Jonathan Moyo
All this shows is that it was the introduction (and retention by you) of Bond notes and then RTGS$ which has introduced inflation. As sensible people and businesses are re-dollarising you are steadfastly ploughing ahead with your plans to introduce a new currency which will fail. David Coltart
It’s possible that for Finance Minister Mthuli Ncube, Zimbabwe is just one huge research project. As far as he’s concerned, he’s doing very well. And that epitomises the problem of intellectual elites who are more fascinated by figures & graphs, not the condition of the people.
His statements are so far removed from the lived realities of the people that they are beyond absurd. How does one express satisfaction that prices are falling in USD terms but doesn’t do the same regarding wages? It suggests a man who’s both out of touch & insensitive. Alex Magaisa
Teachers now earn US$29. Going by your schedule, a tin of Jam costs US$3. This means a teacher can’t afford 10 tins of Sun Jam. They can only buy 9 (US$27). Accordingly, a Zimbabwean teacher earns the equivalent of 9 tins of jam & 2 cans of beans (US$2). Let that sink in. Fadzayi Mahere
I am not sure what the Minister wants to achieve with this comparison? Assuming @ is right, what is the policy implication? Should we re-dollarize? Is this a sign of a failed currency? Is he using the official or unofficial rate of last year? Confusion runs supreme! Hopewell Chin’ono
Here is the best finance minister In the history of Zimbabwe according to Zanu-PF apologists. He uses RTGS to claim a budget surplus then on the other hand quote a drop in USD prices of goods that are priced in RTGS in supermarkets for consumers who are earning RTGS. Solomon Harudzibwi
Don’t insult us please Mr Minister, please just don’t. Mablanyo if I were standing close to you right now ndaikutswinya nzeve. Cde Setfree Mafukidze
You are an [expletive] idiot Mthuli. A bloody [expletive] fool! TiCCCh Ray
You are far away from reality. Joyce Mujuru
Honaiwo dofo rakadzidza iri. See how cash can corrupt anyone. Nxa! Kuda Musasiwa
Whilst we are busy discussing Surplus & US$ price decreases, @ & @ should realise that the political & economic crisis is claiming lives! A total of 129 suicide cases were recorded between the months of January & March 2019 in Zimbabwe. Hopewell Chin’ono
This comparison in $ terms is totally unacceptable coming from a finance minister who introduced RTGS$ & austerity measures which have crippled the have nots & aided massive looting & corruption by well-positioned government officials. Pay civil servants and pensioners in USD
This is the most irresponsible tweet I have seen. @ are you paying civil servants and pensioners in USD??? Tell us how you are going to deal with the black market rates which are increasing every day. I thought EDs government was for the people & not the elite. Linda Masarira
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
Joice Runaida Mugari Mujuru is the interim president of new opposition political party in Zimbabwe, National People's Party. She is former Vice President of Zimbabwe, a position she has held from 2004 to December 2014. She is also former Vice President of Zimbabwe African National... Read More About Joyce Mujuru
Victor Chimhutu is the founder and chairman of Zimbabwe Yadzoka / Mayibuye iZimbabwe / Reclaiming Zimbabwe (ZYMiZ), an organisation which describes itself as a grassroots subaltern civil rights movement, is dedicated to the political empowerment of the People of Zimbabwe. The organisation reaches does campaigns... Read More About Victor Chimhutu