adminZimbabwe’s trade imbalance is being exacerbated by businessmen who are importing goods that can be manufactured locally thus rendering the industry inefficient, Finance Minister Patrick Chinamasa has said.
Speaking at the Buy Zimbabwe Public Procurement conference, Minister Chinamasa said Zimbabweans are importing goods such as bottled water, soap, sugar, cooking oil, cell phones and vehicle parts, among other things.
“Our import bill is unsustainably high, with a current account deficit for the first half of the year at US$1,7 billion.
“The nature of the imports is worrying, we are importing consumptive products that account for at least 70 percent of our import bill. When you are always eating, eating, eating and not saving for your house or to buy a bike, that is ‘import mania’. You are crazy, it’s always difficult to counteract craziness on a national scale.
“It means you are not thinking about tomorrow, about your children because you are eating everything. Why are we destroying our country and then look to other countries for imports, let alone blame lack of capacity to do things that we have capacity to do?” he askd. — BH24.
Online Reporter