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Mnangagwa claims the resurgent skyrocketing inflation is a calculated political attack

by Staff reporter
14 Jun 2023 at 09:08hrs | Views
Zimbabwean President Emmerson Mnangagwa claims the resurgent skyrocketing inflation - which has seen the country plunge into a third hyperinflation wave in 15 years - is a calculated political attack and sabotage of his government to fuel public unrest ahead of the August elections.

In what sounded like an elaborate yet unsubstantiated conspiracy theory, Mnangagwa said dramatic price increases were a reaction to his recent proclamation of the elections date.

Conveniently, he made no link between price increases and money supply, as well as currency and exchange volatility.

Government policy failures and fiscal profligacy - aggravated by the current huge elections-related spending - always don't feature in his snake oil economics.

Economists say resurgent inflation is stoked by money supply growth  and liberalisation of the exchange rate, which led to an immediate local currency collapse.

Fiscal and monetary authorities are now battling the implosion.

Mnangagwa made these claims in Gweru at the official opening of a five-day orientation and induction workshop for Zanu PF aspiring elections candidates.

He also said his party will launch its election manifesto in Chipinge, Manicaland.

Zanu PF has been in power for 43 years. Its record has been nothing short of the calamitous.

Source - newshawks