The Zimbabwe Independent
December 24, 2020
AS the curtain comes down on the year 2020, there seems to be no end to Zimbabwe’s multifaceted economic crisis.
Just as we thought tepid growth and currency volatilities had been addressed by the foreign currency auction system, we were hit by rocketing food and basic commodity prices. Only this week, the Consumer Council of Zimbabwe said the cost of living for a family of six increased to $22 976 in November, from $21 745 in October.
While at 401% in November, the annual inflation rate dropped by wide margins from 471% in October, it remains extremely high.
At that level, it will be difficult for the government to see through current efforts unveiled in the 2021 national budget, and the National Development Strategy 1 (NDS-1), to rebuild the economy.
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