peter
Business Reporter
ZIMBABWE’S Poverty Datum Line (PDL) was up by 17 percent to $5 293 in February this year from $4,492 the previous month, latest data shows.
According to the Zimbabwe National Statistics Agency (Zimstat), the PDL measures the basic needs for an average family of five.
The spike shows a continued increase in the prices of goods and services on the market.
Moreso, the volatility of the exchange rate has also in the past been blamed for triggering price increases.
Zimstat indicated on its Twitter handle that:
“The Food Poverty Line for one person in February 2020 was $419, while that for an average household of five persons stood at $2,097.
“The Total Consumption Poverty Line (TCPL) for one person was $1,059 while for an average five person household, it stood at $5,293 for the same period.”
The TCPL, according to Zimstat, is a combination of food and non-food items that a person or an average family require not to be deemed poor.
Meanwhile, the Government hopes that implementation of reforms outlined in the Transitional Stabilisation Programme, will persist to reflect notable milestones on fiscal consolidation, monetary policy restoration, liberalisation of the foreign exchange market, structural and governance reforms, re-engagement, investment promotion and support for the productive sectors.
The country’s economy has been sluggish for close to two decades due to the debilitating effects of illegal sanctions imposed on the country by the West.
However, the coming into power of the new political dispensation led by President Mnangagwa in November 2017, has ushered a new era where the Government has embarked on a re-engagement drive with the international community to improve the frosty relations and open avenues for the much-needed foreign direct investment.
Online Reporter