ZCTU concerned with state of economy

HARARE - Zimbabwe Congress of Trade Unions (ZCTU) says it is deeply concerned with deteriorating state of the country’s economy that has seen inflation galloping to over 30 percent causing serious suffering among Zimbabweans.

ZCTU secretary general Japhet Moyo said since the announcement of both fiscal and monetary policies by authorities in October and November 2018, the plight of Zimbabweans continues to worsen.

“The new measures, instead of solving the economic crisis that the country faces, increased taxation and failed to end crisis like the shortage of cash. Of great concern to the ZCTU is the shocking massive price hikes that have affected almost every basic commodity, worsening the plight of the already struggling masses of
Zimbabwe. 

“Prices of most products have gone up three fold and the prices continue to rise at break-neck speed and this has seriously eroded the incomes of ordinary workers who are finding it hard to survive on their meager wages. Labour notes that most workers earn an average of $300 a month and therefore cannot afford to buy the goods in most shops.

“Unscrupulous retailers are using the three-tier pricing system to swindle consumers while authorities just stand by without taking action. There are prices of those who use the United State Dollar, the bond note and those who use electronic transfers. In most cases those who use the electronic transfers are made to pay through the nose,” said Moyo. 


 

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