WASHINGTON — Zimbabweans appear to be benefiting from two consecutive years of economic growth and efforts to bring hyperinflation under control.
Eighteen percent of Zimbabweans surveyed by Gallup in 2011 report “living comfortably” on their present household incomes — double the 9% who said so in 2009.
The 16% who reported they are “finding it very difficult” to get by is down significantly from 31% in 2009.
With inflation at 231 million percent in 2008 and underemployment affecting four out of five adults, Zimbabwe abandoned its dollar in 2009 and allowed citizens to trade in US dollars and other currencies.
Hyperinflation eased and Zimbabwe’s GDP per capita began to grow for the first time in decades, soaring 7% in 2009 and 10% in 2010.
Zimbabweans’ outlooks on their personal economic situations improved dramatically over this period.
In 2011, 39% of Zimbabweans reported they did not have enough money at times in the past year to buy food they or their families needed, down from 73% in 2009 and 80% in 2008.
Now that they no longer need to pay 10 million Zimbabwean dollars for a loaf of bread, many Zimbabweans are finding such basics more affordable.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
A sizeable percentage, however, are still struggling. Zimbabweans are now the most likely in Southern Africa to say that they are finding it easier to get by.
These data suggest many Zimbabweans are benefiting from the government’s effort to bring hyperinflation under control and lower prices.
Zimbabwe is on a path to recovery with GDP growth, but the country’s economic future remains shaky, particularly with a large deficit.
The coalition government has managed to keep the economy from plunging into serious crisis. At the same time, political tensions are growing with the possibility of elections in the near future.
Election-related violence and instability may threaten to derail the clear economic gains Zimbabweans are currently enjoying.
