Mugabe bemoans Zimbabwe's economic challenges

President Robert Mugabe bemoaned the economic challenges faced by Zimbabwe as he spoke during the country's National Heroes Day commemorations in Harare on Monday, reports said.

"We are still grappling with the task of transforming our economy," Mugabe said, according to a BBC report.

Mugabe's remarks came as the country's economy continued to deteriorate, with thousands of people having lost their jobs in the last few weeks.

Struggling Zimbabwean companies continue to lay off thousands of workers, particularly after the country's Supreme Court passed a controversial ruling last month that gave employers the leeway to terminate job contracts by giving workers just three months notice.