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Economists Accuse Govt Of Hiding Behind Ukraine-Russia War

Economists Accuse Govt Of Hiding Behind Ukraine-Russia War

Local economic commentators have accused the Government of using the Russian invasion of Ukraine as a scapegoat for its failure to manage the country’s ailing economy.

Zimbabwe is experiencing three-digit inflation now close to 200% year on year, with prices of basic foodstuffs especially cooking oil, mealie-meal and bread now out of the reach of many.

On Monday, Women’s Affairs, Small and Medium Enterprises minister Sithembiso Nyoni told delegates at the Micro, Small and Medium Enterprises (SMEs) day in Harare that “some of the things that are happening are really not our fault”.

However, Vince Musewe, an economist, said while the Ukraine-Russian war has contributed to price increases across the globe, the Government is being dishonest by trying to blame the war for all the country’s woes. Said Musewe:

Politicians always want to find scapegoats but in Zimbabwe, we have other issues that have caused the economy not to perform well.

The issue of RTGS-US$ rates has caused inflation in Zimbabwe. Yes, we know that Russia and Ukraine are major exporters of wheat.

Russia is also a major producer of oil. This is bound to cause disruption in the world market but to blame that as the major reason for our economic problems is not being honest.

Analyst Farai Gwenhure argued that Zimbabwe’s economy was in crisis long before Russia invaded its neighbour. Said Gwenhure:

When the government talks about how the war has caused suffering in Zimbabwe, one tends to think that the country was performing very well and developing at a supersonic speed before the Russia-Ukraine conflict.

The truth is the war is affecting the country because the economy was already been in the doldrums.

It’s like a chronic patient getting coronavirus. The result can be devastating.

More: NewsDay

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Mrs Chamisa 1 month ago

You nailed it

VYBZ KARTEL 1 month ago

When Russia sneezes everyone gets the flu. It's not only Zimbabwe in financial trouble. Problem is that most Zimbos don't listen to other financial news of other nations.

dispenser 1 month ago

inflation wc affects Zanu only to reach 200% inflation .wake up mhani why are yu so dull

advocate-me 1 month ago

No, its only you who does not listen to the truths about the cause of your Financial problems.

xyz 1 month ago

uyo anonzi vybz uyo has got eyes that "don't see".

Mass 1 month ago

Dai muchinyora ne shona munhu anonzi Vybz Kartero chirungu chinomuvhiringa.Dai ambodzokera kana E.C.D otangira ipapo

Chamhamha 1 month ago

Nhai Mwari tosvikepi neharahwa dzakaita sana Gladys Nyoni idzi.


Legislator 1 month ago

😂😂;tazotadza manje tava kupomera noise yepa next door ,mai mwana vhura

Jah🇿🇼Tsvarie-07 1 month ago

The war in Ukraine is less than 300 days old
Zimbabwe has been fighting inflation way before the war and every Zimbabwean knows that pretty well 😀 For a leader to blame the suffering in Zimbabwe on Ukraine is not wise...

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