News / National
Zimbabwe has the lowest inflation rate in SADC region
30 Sep 2011 at 18:58hrs | Views
A SADC economic indicator says Zimbabwe's economy has the lowest inflation rate in the region, an indication that the nation is operating on stable conditions, reports ZBC news.
In a move that is reflecting government's commitment to restore business confidence, Zimbabwe's inflation rate which is at 3, 5% has been considered by the latest SADC economic report as the least compared to other regional economies.
The report shows that since January this year, the country's inflation rate has been averaging 3 ,2% levels compared to other regional nations such as South Africa, Zambia, Mozambique , Malawi, Tanzania, Botswana among others whose inflation levels are hovering at an average rate of between 7% and 10%.
An economic commentator, Mr. Godfrey Dupwa says in spite of the low inflation rates, government should focus on policies to increase business confidence.
A business analyst, Mr. Elliot Mashanyare says while inflation has ceased to be the country's number one enemy there is need to mobilise capital for productive sectors.
"We now need to boost production so as to stimulate domestic demand," Mr. Mashanyare said.
Zimbabwe has been experiencing single digit inflation levels following the introduction of the multiple currency system in February 2009.
However, economic observers warn that gains achieved so far might be reversed on the back of profiteering in some sections of the business community.
In a move that is reflecting government's commitment to restore business confidence, Zimbabwe's inflation rate which is at 3, 5% has been considered by the latest SADC economic report as the least compared to other regional economies.
The report shows that since January this year, the country's inflation rate has been averaging 3 ,2% levels compared to other regional nations such as South Africa, Zambia, Mozambique , Malawi, Tanzania, Botswana among others whose inflation levels are hovering at an average rate of between 7% and 10%.
An economic commentator, Mr. Godfrey Dupwa says in spite of the low inflation rates, government should focus on policies to increase business confidence.
"We now need to boost production so as to stimulate domestic demand," Mr. Mashanyare said.
Zimbabwe has been experiencing single digit inflation levels following the introduction of the multiple currency system in February 2009.
However, economic observers warn that gains achieved so far might be reversed on the back of profiteering in some sections of the business community.
Source - ZBC News
