Doom and gloom

HARARE - In what could spell further doom and gloom for President Robert Mugabe’s ruling Zanu PF, the economy continues to contract at a much steeper pace than previously indicated in the first half of the year.

Zimbabwe’s Gross Domestic Product (GDP) is falling precipitously, signifying the worst performance rate that could eclipse the 2008 economic crisis when hyperinflation ran riot.

Millions of people are struggling to make ends meet, while the Zanu PF-led government, still caught up in the euphoria of trouncing the opposition in last year’s contested harmonised elections, has failed to come up with policies to jump start the feeble economy.

The recovery from a decade-long recession is wavering as factories shut down and households come under increasing pressure because of delayed salary payments and job cuts by private companies.

GDP growth, which averaged 10 percent between 2009 and 2012, has been slashed to 3,1 percent this year by Finance minister Patrick Chinamasa from an overly optimistic projection of 6,1 percent.

Annual inflation fell for five straight months from February to June this year, data from the Zimbabwe Statistical Agency (Zimstat) shows.

Analysts attribute the deflation to weak demand in the ailing economy, and suggest radical measures to arrest the worrying trend which comes after years of hyperinflation which only ended with the adoption of multiple currencies in 2009.

With the Heroes and Defence Forces holidays only a few days away, most people interviewed by the Daily News said they were facing a bleak break this year amid rising poverty, food, water and power shortages and economic uncertainty. Some are describing it as the worst crisis since the collapse of the coalition government last year.

“I don’t have much to look forward to this year,” said a dejected former retail employee Josiah Mutimba.

“Since I lost my job in April when the shop I was working for closed, I have been doing menial jobs to keep my family alive.”

With unemployment at 80 percent, many Zimbabweans have found it difficult to put food on the table.

A recent report by Econometer Global Capital (Econometer) showed that by year-end, unemployment would have topped 92 percent, with most companies intensifying staff rationalising exercises, including government controlled institutions such as Hwange and Zimbabwe Broadcasting Corporation.

Econometer noted that an average of two medium-size corporates, five small enterprises and 0,5 large corporates close shop every month in Zimbabwe, with smaller towns the worst hit by de-industrialisation.

“This calls for the nation to urgently revise policies which directly and significantly impact negatively on the job creation prospects which includes the blanketing indigenisation policy, the revision of title deeds regime and toning down on racially biased language which discriminates Zimbabweans based on colour or creed,” read the report.

Zimbabwe’s economy is currently reeling from depressed industrial output due to lack of lines of credit to finance production. This has seen the country relying heavily on imports to meet most of its needs, resulting in a huge trade deficit of around $3,3 billion annually.

Amid doom and gloom, most Zimbabweans have been irked by Zanu PF’s seeming failure to find solutions to their plight. The party swept to a disputed victory through their Bhora mugedhi slogan and due to extreme poverty experienced since last year’s election, the slogan has been renamed Bhora musango by the people.

Ahead of the July 31 2013 poll, President Robert Mugabe’s Zanu PF promised to deliver 2,2 million jobs, 250 000 low income housing units, 310 public schools and 300 clinics, but a year into his rule, he is yet to deliver on any of the promises.

Former Prime Minister and opposition MDC leader Morgan Tsvangirai has noted that since the contested elections of 2013, the economy has failed to gain any traction.

“To the citizen, we have seen insecure jobs to the few that have them, unfulfilled promises to civil servants and inadequate remuneration as well as the disappearance and diminishing of any form of savings,” Tsvangirai said.

“Systemic corruption and unbridled avarice have become an albatross of this economy.  And this at a time when the country itself is seriously mired in debt, the external debt of which is in excess of $10 billion.”

Tsvangirai said Zanu PF had failed to mobilise a rescue package for the productive sector.

“There is unmitigated failure on the part of government to come up with a solution to rescue this abysmal situation,” he said.

Statistics from various United Nations organs reveal that because of the present crisis, some 2,3 million people infected with the HIV virus have been forced to skip meals or cannot afford bus fare to clinics for treatment.

Critics blame Mugabe’s policies, such as the Indigenisation Act and the often-violent sizure of white-owned farms for the economic dislocation.

Mugabe, who has ruled Zimbabwe for 34 years, blames Western sanctions,for the economic hardships.

Last week, Conferderation of Zimbabwe Industries CZI)’s past immediate president Kumbirayi Katsande questioned whether Mugabe was aware of Zimbabwe’s economic dire straits.

Comments (86)

Mukaverenga kuna 2 Chronicles 18 munoona kuti panotaurwa nenyaya yemaprophets emhando mbiri. Paive nemaporofita amambo Ahab vaiswika 400, ne muporofita wamwari ainzi Micaiah mwana wa Imla. Vaporofita vaAhab vaitarawo muzita raMwari kunyangwe zvichioneka munyaya iyi kuti vainyebera mambo kuti aizokunda muhondo yaivemberi kwake. Muporofita anotaridza kushaya hupfumi ndiMicaiah muporofita waMwari. Ndiye oga akanzi aizodya chingwa chekutambura. Vaporofita havafanire 1) kunyeba, 2) kupfumiswa nekusvina vanhu kunyanya varombo,3) huye hupombwe. Kuzvidaidza kuti muporofita hazvirevi kuti ndewa Mwari. Ndinofunga kuti zvinooneka kuti vari kuita business neanomirira basa raMwari ndiani. Ngatingwarei vana vaMwari. Handifungi kuti muporofita weidi anofamba nema body guard bodo.

pastor - 8 August 2014

Vakomana, nhai Kachembere, zvinorevei kuti 'seizure of white owned farms?" I thoughtby now you should be educated enough to understand that possesion of stolen property confers no legitmate rights of ownership to anyone. Perhaps just to keep your article balanced consider the use of proper phrases such as " white occupied farms" , "white colonised land", white stolen farms" e.t.c bluh bluh bluh. Fair-minded people reading an article containing one iota of falsehood will throw away the rest of it.

point order - 8 August 2014

Honestly,Mugabe has failed thoroughly.It's wrong for anyone to think that everyone else will equally fail simply because Mugabe failed. MT joined the GNU in good faith but Mugabe had very sinister ideas.He led the GNU but ironically worked hard against it & told the whole world that the GNU was a monster.Mugabe thinks he is indispensable in Zimbabwe but he has lost every trust or respect both internationally&locally. Regai kurova imbwa makaviga mupinyi.

mangachena - 8 August 2014

Point of order mind you some of the whites bought farns which had certifcates of no interest from the government. Some where invited during Zimcord if you were born then you would know in Zinmbabwe we had Zimcord in which we invited people to invest in all fields of the country. So some who genuinely bought their farms lost out to vilent seizures as we implemented a racial country from white racist Rhodesia to Black racist Zimbabwe. This country will need a new generation of thinkers to move forward these old tired guerillasa have failed and they know it but they actually wish we all get wiped by ebola so they will have nobody asking questions.

Maita Manyuka - 8 August 2014

We're now in the last half of the year one and a few days after the hotly disputed elections. Some people have the temerity to make celebrations while the whole nation is wallowing in dire poverty. What did people really expect from this ZANU government other than this. We need a God fearing government to usher a new dispensation in Zim period!

Regalia - 8 August 2014

How many times have we heard reports from print and electronic media that the economy is dying every day in our country . Mugabe has never said what he is doing about it only to hallucinate recently at a shooting range saying the economy was doing well .If he was really zimbabwean like Morgan he would be seen at least doing something about the dire situation in our country . What he is concerned about is to win elections only nothing else . He is busy invading farms to dilute MDC T strong holds like what he has done at Dabangwa 's farm . If investigations can be made the majority of those thugs who invaded Dumiso 's farm are not from Matebeleland.What kind of leader is this ? An idiot of course .

Diibulaanyika - 8 August 2014

Mugabe is a nutcase firmly stuck in the archaic communist/socialist time warp. All the original Communists have discarded Communism/socialism except Castro's Cuba and Mugabe. Mugabe is like someone who is running towards an erupting volcano when he can see everyone else is running away from the volcano, because Mugabe thinks the volcano will not harm him. Totally insane this man. He is not telling people he is trying to implement the Marxist/Leninist ideology in Zimbabwe by his so-called indigenisation and so-called land reform. You find some idiotic intellectuals saying the “land issue is emotive” nonsense and land reform is a good thing but they cannot discern it is some crude form of socialism which was tried by another mad man, Nyerere, under the name of “Ujamaa” and only resulted in impoverishing the whole nation. At least Nyerere admitted in the end his brand of socialism was nonsense. Before we voted him into power Mugabe was always saying he was a committed Marxist/Leninist. He reckoned Marxism was akin to Christianity and I think he still believes it! The economic situation can deteriorate Mugabe is not going to change course. Mugabe thinks the economic order should change course to accommodate him not him changing course to accommodate the world economic order. Nobody in his party has the bottle to challenge him to change tack. Most in ZanuPF acquiesce to the crackpot ZimAsset but deep down they know it's a load of bollocks. One ambitious leader once said, “It's perfectly normal that when you're young that you want to change the world. The older you get, the more you realise what a fool's errand much of that is”. Not with Mugabe - the last Communist standing. As long as Mugabe is president the ship is heading straight for the reef before our very eyes.

Musona - 8 August 2014

Mugabe in his speech in 2005 announced and proclaimed he is a Jesuit .Go and research and see who Jesuits are and the secrets issues behind them , then you will understand Gushungo. And all who fighting against him they are blind , we are fighting spiritual darkness ,powers of darkness,there is a big power behind Mugabe .and to make every body a begger is his aim,he has virtually wiped the middle class . May the God Almighty have mercy on us .Mugabe is fulfilling prophecy, Read the bible on your own the Holy Spirit will be your teacher. Do not be deceived

Tembi Sango - 9 August 2014

While it is evident that many of us are affected by the genernance of zanu, it may be important for us to find out where we can make a difference. I am of the view that it does not help to throw tatrums about the situation we find ourselves. The most important thing is our future and that of the next generation. We have to work with what is there for us. There are people who are making a difference dispite the setbacks. Yes, we can express our frastration regarding the current state of affairs, but we have to find a way of puting food on our tables. I am not suggesting that it is going to be easy but perhaps that is what is probable in our situation. Emotions have a tentanse of exposing people to stress- continous stress may expose one to cancer. From the comments i read above, it seems to me that we are bitter about what is going on in our home. Lets find a little time to think positive and perhaps we will in the end start sharing comments that suggest how we can go through this storm. Thats my prayer.

taurai - 10 August 2014

We are just waiting for Mugabe to die to see what happens next. He cant live forever

Anne Tembo - 13 August 2014

After being in relationship with him for 3 years, he broke up with me, I did everything possible to bring him back but all was in vain, I wanted him back so much because of the love I have for him, I begged him with everything, I made promises but he refused. I explained my problem to someone online and she suggested that I should rather contact a spell caster that could help me cast a spell to bring him back but I am the type that never believed in spell, I had no choice than to try it, I mailed the spell caster, and he told me there was no problem that everything will be okay before three days, that my ex will return to me before three days, he cast the spell and surprisingly in the second day, it was around 4pm. My ex called me, I was so surprised, I answered the call and all he said was that he was so sorry for everything that happened, that he wanted me to return to him, that he loves me so much. I was so happy and went to him, that was how we started living together happily again. Since then, I have made promise that anybody I know that have a relationship problem, I would be of help to such person by referring him or her to the only real and powerful spell caster who helped me with my own problem and who is different from all the fake ones out there. Anybody could need the help of the spell caster, his email is email:( vovolaspellcast@yahoo.com )

Liosu1 - 30 December 2014

I want to use this opportunity to thank Dr Kamachu for helping me to win the lottery.I have been playing the lottery for the past 2 years now and the only big money i have ever won was 3000$ ever since then i have not been able to win again and i was so upset and i needed help to win the lottery so i decided to go online and search for help,there i saw so many good talk about this man called Dr Kamachu of how he have cast spell for people to win the lottery.I contact him also and tell him i want to win a lottery he cast a spell for me which i use and i get my ticket and play and i won $3million.I am so grateful to this man just in case you also need him to help you win,you can contact him through his email: traditionalspellcentre@gmail.com

Mr Terry - 28 February 2015

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