Government has failed to fix the economy

By Takunda Mandura

Zimbabweans are living in fear of going back to the 2008. The country has been blown in the cash shortages which have led to most Zimbabweans panicking.

Zimbabweans do not want to encounter the economic meltdown which happened in 2008.The ordinary citizens came into panic when the RBZ governor announced the introduction of the bond notes as many citizens thought it would be the return of the Zimbabwe dollar.

The announcement has led to investor panic leading to some investors removing their money from the banking system. As a result banks do not have enough currency to import basic commodities leading to shortages of some commodities in some of the shops.

The country signed mega deals with China some years back in a bid to turn around the economy. However, the results of such deals are yet to be realized by the general suffering populace.

2016 has been characterized by high activism with various activists spreading the same sentiments on the economic crunch but the government seems not to notice. The government is soon going to feel the heat as the economy continues to nosedive.

The government has formulated various policies that scared away potential investors from the country. Resultantly, the country then experienced serious problems related to the foreign direct investment. The problem had a multiplier effect of causing unimaginable higher levels of unemployment because of the closure of many foreign companies which has, of late, formalized unemployment.

More than half of the citizens have become vendors and people have resorted to futile demonstrations against the government. Most of the country’s economic activity is happening in the informal sector as 5,7 million people are reportedly working in the informal sector.

The mismanagement of state resources has been a matter of public concern with vast public funds being misappropriated. Recently the president revealed that the country had lost $15 billion in the diamonds sector. Parastatals have been a constraint to the country due to corporate mismanagement.

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