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*Business Blames Govt For Driving Inflation & Spike In Parallel Exchange Rates* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?nj The Confederation of Zimbabwe Industries (CZI) said the increase in money supply as the government borrows to fund its excessive expenditure is stoking inflation. A CZI official urged the government to desist from making one-off payments to its suppliers, but rather pay in tranches so that they won’t rush to the parallel market to buy foreign currency. ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- Speaking before the Budget, Finance and Economic Development Parliamentary Committee on Monday, CZI chief economist Tafadzwa Bandama said: > The problem we are having in the economy is the growth in the money supply. Just to highlight that in the last quarter of 2019, the money supply was $35 billion and in the first quarter of 2020, it is now at $46 billion, which is quite a huge growth in the money supply. > We also want to highlight as CZI that supply of services to the government must be rationalised, especially when it comes to payment. If say a supplier does a job for $3 million, for example, instead of giving them the whole $3 million which they will use to rush to the parallel market, it’s better to pay in tranches so that we do not have a run on the exchange rate. Several business executives who appeared before the Committee blamed government policies for the economy’s poor performance. *More: NewsDay* itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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