PRESIDENT Emmerson Mnangagwa yesterday accused business of sabotaging his government.
Officially opening the Zimbabwe International Trade Fair
(ZITF) in Bulawayo, Mnangagwa said: “We must practise honest and ethical
business practices. Businesses cannot purport to support the government by day
and sabotage the same government by night and then after play the victim. It is
imperative for us all to make strategic choices for the best interests of our country.”
Businesses have been increasing prices of goods and
services as well as selling goods exclusively in US dollars, citing rising
inflation to hedge against losses and the cost of hard currency on the black
market.
Prices of basic goods and commodities have spiralled this
month, with bread now costing $480 per loaf and a 10kg bag of mealie-meal going
for $1 300.
Inflation on Tuesday also spiked upwards to 96,4% up from
72,1% in March, raising fears of a possible return to hyperinflation.
But Mnangagwa said he was optimistic that the economy would
turn around, despite analysts predicting gloom ahead.
Mnangagwa said Zimbabwe exports, at about US$10 billion
last year, showed that his government was making strides in transforming the
economy.
“Zimbabwe’s economy has moved from stabilisation to growth,
hence industry must accordingly go beyond merely staying afloat,” he said.
“All sectors are, therefore, challenged to adopt entirely
new business structures anchored on innovation strategy for the long-term
benefit of our economy and higher quality life of our people.”
He also said the National Development Strategy 1 was
registering notable results, with the economy growing last year by 7% and is
expected to grow 5,5% this year.
“Equally, we have to manage risks, reduce costs and improve
efficiencies and overall competitiveness. Products and services of industry
must continuously address the needs of our people and our economy,” Mnangagwa
said. Newsday
0 comments:
Post a Comment