Finance Minister, Mthuli Ncube has projected that inflation in the country will slow down starting this year until it reaches about 2% by 2020.
Whilst presenting his 2020 Budget Statement in Parliament this Thursday, Ncube said:
Monthly inflation is expected to fall to single-digit from the first quarter of 2020 to close the year around 2% on the back of commitment by the RBZ to implement tight reserve money targeting framework as announced in the second 2019 Monetary Policy Statement.
- - - Buy NetOne, Telecel Airtime on WhatsApp using EcoCash.
Send the word Airtime to +263 714 815 229
No extra charges. - - -
Meanwhile, the ZimStat data published today (Friday) indicate that the monthly inflation rate in October was 38.75%, up 21.03 percentage points from September whilst annual inflation is now at 440%.
It means therefore that his projections are not in sync with reality on the ground.