BY GADDAFFI WELLS
IN the face of price hikes and high inflationary pressures on the local currency, President Emmerson Dambudzo Mnangagwa reacted by declaring the vices, evil, and results of external forces.
Mnangagwa while delivering his official speech during the 361st session of the ZANU-PF Politburo session, told his party members that, his government has a solution to the “evil” runaway inflation.
“Government is currently addressing the evil exchange rate and price hikes which are a result of imported inflation,” said Mnangagagwa in passing.
Foreign currency shortage induced price hikes are being felt by the ordinary people who now have to pay ZWL$345 for a loaf of bread which would translate to USD$2 using the official exchange rate of 1: 150.
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The price of bread which appears to be tracking the black market exchange rate was triggered by an increase in the price of flour which went up by 17%, fuel which also shot up among other price surges.
Mnangagwa who has already threatened business with tough measures told his party peers that government remained resolute in driving economic growth.
“Our quest to modernize, industrialize and grow our economy as envisaged in the 2018 People’s Election Manifesto remains a priority for both the party and government,” he said.
Despite the threats to business, Mangagwa said he was also committed to ensuring business remains comfortable.
“As government, we remain committed to creating the conducive business operating environment and providing enablers for sustainable economic development,” he said.