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Biti to deliver a State of the Economy Address

by PDP
17 Oct 2017 at 16:41hrs | Views
The economic crisis is deepening, today's Herald reports that inflation rose by 0,78 percent following price increases which according to the ZIMSTAT are a result of foreign currency shortages. We are of the view that it includes many other factors including the distortions of the bond note.

According to the article, inflation which continues to affect the retail sector will see the full effect of price increases only being felt in the October where inflation figures are expected to rise to 1 percent.

In this interregnum, the state continues straddling from one crisis to another, leaderless, radar-less and clueless. In the broader context, the structural challenges continue to arrest any signs of a possible recovery, acerbic fights in the ruling party occupy the time of those responsible of providing a solution.

Elite cohesion is non-existent, the centre no longer holds, vultures are circling for a possible takeover of the patronage infrastructure. In other words there is no solution in sight.

Aggregate demand has collapsed; industrial capacity utilisation on a record decline and a crippling financial crisis has redefined the banking sector in the country. The common man sleeps on the bank queue and the elites are not even looking for a solution instead they are introducing car importing competitions during the night and cry lack of foreign currency during the day.

The debt crisis is worsening; control on government expenditure has been lost disproportionate to dwindling revenue. Issuance of treasury bills is now the order of the day and domestic debt is ballooning. The government is financing non-state transactions including ZANU-PF rallies on public account through extra-legal means.

A recent example of spending money like confetti is the trip to New York where the terrible son was spotted shopping at the best of shops like Gucci.

Zimbabwe bleeds, weighed down by a deadly cocktail of failures, hatred, indifference, fatigue, hopelessness. The ZANUPF government has not been accountable and responsive to the people's needs in its pursuit of authoritarian politics where only the interests of the elites are served.

While the situation seems to be gloomy and hopeless the PDP believes everything can be lost but HOPE.

In our commitment to providing thought leadership the People's Democratic Party President Tendai Biti will on Tuesday the 24th of October 2017 deliver a comprehensive State of the Economy Address including a raft of solutions to the developing crisis.

We must recover and recapture the Zimbabwean dream. It is a dream which made the bigger part of the liberation struggle agenda.

Together Another Zimbabwe is Possible

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Source - PDP Communications
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