While addressing a Zanu-PF Politburo in Harare yesterday, President Emmerson Mnangagwa said that the government is working overtime to stabilize the prices of basic goods in the country.
“Government is currently addressing the exchange rate evil and price hikes which are a result of imported inflation. The participation of our people in a productive and profitable economic enterprise is key ” President Emerson Mnangagwa said.
He also added that he was optimistic about the revival of the country’s economy in light of the measures that the government was putting in place.
“Our mantra and quest for the people of Zimbabwe to be masters of their destiny must translate into their greater involvement in value addition and beneficiation of our raw materials, the growing of our own food, the manufacturing of our own clothes, construction of our roads, dams, schools and clinics,” he also added
This follows price hikes of basic goods mainly in response to the rampant parallel foreign currency market and the negative effects of the Russia-Ukraine conflicts.
Finance minister Mthuli Ncube said that the government was aware of the economic pain and authorities were trying to fix the main causes of the problem including inflation and currency volatility. He also added that among the measures that authorities had introduced included containing fuel prices and availing more foreign currency to companies through The Reserve Bank of Zimbabwe.