Mugabe's positive spin on economy sledged

HARARE - President Robert Mugabe’s optimistic talk about a buoyant Zimbabwean economy has been sledged by economists who alleged either his ministers are feeding him with wrong information or he is simply taking Zimbabweans for granted.

The president maintained the upbeat tone during his Independence Day address on Monday, when he claimed the economy was on a rebound, claiming several firms had reopened for business.

“With respect to the manufacturing, I am glad to inform you that there has been a very comfortable resuscitation of companies that had closed or were on the brink of closure,” Mugabe claimed.

“In addition, there have been the formation of completely new companies within the economy during the past few years.

“The resuscitation, formation and expansion of these and other companies has greatly assisted us in preserving employment, creating new jobs, saving foreign currency and exchange, enhancing fiscal space and in increasing production.”

Economists rejected outright Mugabe’s positive spin on the Zimbabwean economy.

Economist Vince Musewe said it was “absurd” for Mugabe to praise his administration for steering the economy towards recovery in an environment where citizens had no disposable income.

“It is not fair for the president to stand up in front of suffering citizens and make such claims because it shows he takes Zimbabweans for granted,” he said.

“No economy will revive without disposable income. As long as companies are closing like we are witnessing everyday, together with the current cash shortage and non-payment of pensions, it means the majority have no cash to spend and how then can one talk of economic revival?”

Economist John Robertson blamed Mugabe’s ministers.

“It appears the president is incorrectly advised because things are looking even worse with a shrinking buying power among citizens, collapsed manufacturing industry which has seen an increase in food imports including even mealie-meal,” he said.

“That is an indication that prices are too high locally because the processing costs are also too high. The people on the ground should tell the president the truth.”

Economist Tony Hawkins said evidence on the ground showed that the country’s Gross Domestic Product (GDP) was set to further decline this year, further asserting that owing to the current cash shortages, the country’s balance of payment would not be favourable for economic growth.

“What we are seeing is that this year the GDP will decline because of drought  and exports will go down by at least 13 percent, hence the economy will not be able to sustain itself,” Hawkins said.

Comments (15)

This total absurdity and unacceptable in a democratic dispensation. Lying on national TV that Zimbabwe is registering recovery is contempt of the Zimbabwean citizenry. Mentioning NRZ as an example shows high levels of disrespect our leader give to his fellow country men. NRZ is on the blink of collapse and the government has no clue whatsoever on how to resuscitate it. In Brazil Dilma Rousseff is facing impeachment and one of the reasons is that she lied to the nation that Brazil was performing better when in actual fact she had manufactured figures to suit her. This is the same with our leader currently how can he lie like that and the populace assumes all is well. Since July 31 2013 the economy has been on a free fall with no clue to avoid the fall. Just check on the numbers at the stock exchange, inflation figures, unemployment figures, international trade imbalances and the levels of M3 or broad money supply figures. All these are negative and we are told Zimbabwe is now past a corner. Lies!!!!

Professor - 20 April 2016

He was reading a wrong speech.kkkkkk

grade two - 20 April 2016

Theris no opposition in zim that has the mental stamina to impeach,like in Brazil.Here Mdc want everything settled streetwise.they are looking forwad to another march in the streets.The isue of putting up a case in parliament is a mamoth task ,mentaly ,for mdc.They r itching for the Fedinand Marcos thing.but who wants to be shot for them.they are so scared of parliament .

viola gwena - 20 April 2016

rhobhati just read scripts prepared for him to lampoon! there is no corelation between the contents of that hogwash rhetoric and the reality on the ground. the boy is not in sync with reality as his junta controls pple using draconian laws on one hand and on the other its his job to go on tv and purpot as if everthing is ok much to the ululation of the usual bused in white clad & ignorant apostolic sect congregants wearing filth beards and ever-pregnant/breastfeeding women. there is very little to do from parliament perspective as rhobhati cannot be summoned to parly to answer questions. he comes to parly as and when he feels like. whatever he says is not subject to discussion on the parly forum despite being senseless and psychology will just go boot licking without sythesising what rhobhati said. so in the meantime the street is half of the asnwer to delivering our message.

SaManyika Chaiye - 20 April 2016

'The resuscitation, formation and expansion of..." this is really the most shocking of statements. First it does not make any sense to say what he actually said... Secondly, anyone who knew Mugabe ten years ago knows he would have never read such a badly written and inaccurate statement even for him who is a perpetual and habitual lier. It only shows the senility of the man, and those around him who seem to think that using a bunch of clever sounding words will solve our economic problems. Where are the new jobs? Where is the evidence that fiscal space has been enhanced and what does it mean to say 'there have been formation of completely new...'? It is sad to say the least . Even the economists who were consulted to comment seem to miss that the entire section of the speech on the economy did not make much sense at all...

tino - 20 April 2016

the president is noting whats happening on the ground,i recently started a venture which employed eleven youths thus assisting the country in its turnaround efforts,if the likes of @ samanyika,@diibulaanyika rid themselves of the attitude of what can my country do for me and spent less time whining on this platform,we can all assist the country but alas they spend their time trying to outdo a pensioner @ viola who used her productive years to free the country,lets all contribute towards reviving the economy,forget the british

truth - 20 April 2016

what venture can one talk about without giving specifics?! its vending and not any meaningful venture! what are the qualifications of the 11teen youths that are working in the venture? why youths who are supposed to be in xool and not real bread winners who are unemployed? the indigenous vendorprenuer like to employ youths in order to pay them meagre bond coins! i am not talking about subsistance farming for one and his/her malnourished children here! i am arguing about accountability in public instituitions and lack of sound governance by pple who are good at reciting their unverified bush war escapades some 40yrs ago! i am arguing about so called wo vhets who demand to be CEOs and perm secs without merit for the jobs. I am arguing about a president who can read a wrong speech without noticing that he read the same rhetoric 14 days earlier. I am arguing abut deadwood, boot lickers & rectum chewers who sing a wedding tune at a funeral, who ululate not becoz its worth doing so but they want to surfguard ill gotten money. the argument is about an auditor general who produces 2011 fin reports for nrz in 2015! all this, one charlatan who call him/herself @truth pretend to be oblivious! yu are a saprophyte that finds life and comfort in dead & rotting stuff just like the clique of maggots to which you subscribe. your motor neurones are dead and cant distinguish pain from comfort, you enjoy neither victory nor defeat and cannot pronounce darkness or light to the extent of calling multiple wooden vending tables emblazones with zanu isignia a venture! its a pity there is no known cure for this equally unknown chronic ailment infecting your brain.

SaManyika Chaiye - 21 April 2016

@Truth pinda na Samaz.haungabvarurwe like that,on behalf of those yu believe in.Samanyika voted for zanu in 1990,instead of Zum,bt he finds all fault for his yestayr errors ,in yu.yu are his fall guy,he wants yu to be his fall guy.samaz is older,wht venture did he do in 1980 or before,at for the youths yes yu raise points,good points bt for yoself nope,yu becomes us,part of us for not listerning to Edgar Teks in 1990.

viola gwena - 21 April 2016

@vhiora are you sure of what you are saying about me!!?

SaManyika Chaiye - 21 April 2016

@Samanyika.As sure as christmas pass.Is that supose to be a threat?From yu?Bri g on good stuff,nt this greasy ass monkey acts n talks.

viola gwena - 21 April 2016

its not a threat at all @ viola! not at all! viola I think you are a good woman but, you walk in the counsel of the wicked! it is a true maxim that, 'for what good is a woman who is so gifted with beauty of appearance and kindness of the heart yet she is manning the gates of a brothel?? that brothel is zanu and the likes of @ truth are perennial patrons. yu sound so sober in your comments & you recount events of the past very well much to the gullible acceptance of those who don't know and have not experienced that history. yu managed to obtain the liking of my fellow mdc-t supporters and i have no problem with that. but i wil not be fooled by those plain hogwash narratives that you pin daily in black & white on this forum. once again you are nice but don't abuse that quality because Lucifer failed becoz of abuse of good qualities and to this day he is the devil. so am not threatening you, am just asking if yu sure of your assertions about me?

SaManyika Chaiye - 21 April 2016

Go to sleep Samaz.Madiro angozhambe for no reasn.thank yu for beautifying me n yo respect.I leave Truth to reasn wth yu.good luck wth the it student companion.?

viola gwena - 21 April 2016

you are welcome @ viola! we dont threaten pple in the mdc but i allow pple to display their hollowness and then measure the size of their brain; just like i did with @truth and his parliament of empty hot heads. good nyt!

SaManyika Chaiye - 21 April 2016

When is this idiot called magabi going to die?

Benito - 22 April 2016


ganesh - 24 April 2016

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