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Wallace Ruzvidzo
Herald Reporter
The ensuing economic stability being witnessed in the country as prices of basic commodities continue to drop, is a timely boon for Zimbabweans, Zanu PF has said.
As of last week, prices of basic commodities in some retail outlets dropped by as much as 5 percent and they have continued on that trajectory this week.
This is in response to the continued firming of the Zimbabwe dollar.
Zanu PF’s National Spokesperson Ambassador Christopher Mutsvangwa said the continued economic stabilisation was a result of President Mnangagwa’s masterstroke policies and interventions.
He said the stability had come at an opportune time for the general citizenry. The local currency is expected to continue stabilising in the short term.
“The increasingly obtaining price stability is a boon to the people of Zimbabwe.
“President Mnangagwa is fighting and winning the currency war, the last major and decisive battle stand in Zimbabwe”s titanic struggle of total decolonisation and full independence.
“The pegging of the Zimdollar to the gold standard is a master stroke. After all gold is the currency of ages for the past 5000 years of human civilization. While the much touted US dollar is a mere 300 years old,” he said.
Coupled with the increase in Diaspora remittances and exports, Amb Mutsvangwa said the country was headed in the right direction.
“The President’s recourse to the gold standard rides on the national bonanza of gold deposits. The national haul has climbed from 8 tons to 35 tons in 2016-2023,” he said.
“Mosi-oa-tunya gold coins now graduated to digital gold coins issued by the Reserve Bank of Zimbabwe.
“There is the rising remittances of our hardworking and resourceful Diaspora. Beyond exports of leaf tobacco, horticulture, fruits, coking coal, chrome, nickel, lithium,” he said.
Amb Mutsvangwa said Zimbabweans, as the consumers, were grateful for Government’s timely interventions.
“These are the salient economic fundamentals underpinning the strengthening Zimbabwe dollar and the consequent price stability that is so pleasing to the general public as the consumer,” he said.
According to a survey conducted by the Consumer Protection Commission (CPC), a 10kg bag of maize roller meal, which retailed for around $56 772 in June, now costs $39 239.
A 1kg packet of sugar, which was selling for $15 200 during the same period, now costs $10 680. The survey also shows that the price of a 2-litre bottle of cooking oil now costs between $17 000 and $22 000 depending on the brand, down from $28 600 last month.
In addition, a 1kg packet of salt, which was going for $7 499, is now pegged at $5 499, while a bar of laundry soap, which was pegged at $11 499, now costs $8 060.
The price of a kg of commercial beef has dropped to $27 405 from $37 924.
Online Reporter