News / Local
Economy is bright and not sinking- Mnangagwa
10 May 2017 at 10:02hrs | Views
Vice President Emmerson Mnangagwa has made shocking claims that long winding queues outside all banking institutions countrywide do not mean that the economy is sinking.
According to Mnangagwa who is the acting president, the economy is performing remarkably well.
He was responding in Parliament to a question by MDC-T vice president Thokozani Khupe on how government intends to revive the economy.
"The length of queues (outside) don't reflect that the state of the economy is down.
"What determines growth is production eg in mining and agriculture.
"The economic future is bright" he said today in a televised session.
Zimbabwe is deep in the throes of a debilitating economic crisis which has led to horrendous company closures and the consequent loss of hundreds of thousands of jobs.
Depositors with indigenous banks are spending nights in bank queues as the cash crisis in the country deepens.
The most affected banks are Central Africa Building Society (CABS), People's Own Savings Bank (POSB) and FBC among other local banks.
According to Mnangagwa who is the acting president, the economy is performing remarkably well.
He was responding in Parliament to a question by MDC-T vice president Thokozani Khupe on how government intends to revive the economy.
"The length of queues (outside) don't reflect that the state of the economy is down.
"What determines growth is production eg in mining and agriculture.
"The economic future is bright" he said today in a televised session.
Zimbabwe is deep in the throes of a debilitating economic crisis which has led to horrendous company closures and the consequent loss of hundreds of thousands of jobs.
Depositors with indigenous banks are spending nights in bank queues as the cash crisis in the country deepens.
The most affected banks are Central Africa Building Society (CABS), People's Own Savings Bank (POSB) and FBC among other local banks.
Source - Byo24News
