adminThis is according to a survey on the Zimbabwean economy by global research firm, Gallup.
In terms of the survey (see graph), 18 percent of Zimbabweans surveyed by Gallup in 2011 report “living comfortably” on their present household incomes, double the 9 percent who said so in 2009.
The 16 percent who reported they are “finding it very difficult” to get by is down significantly from 31 percent in 2009.
Zimbabweans appear to be benefiting from two consecutive years of economic growth and efforts to bring hyperinflation under control.
With inflation at 231 million percent in 2008 and underemployment affecting four out of five adults, Zimbabwe abandoned the Zimbabwe dollar in 2009 and allowed citizens to trade in United States dollars and other currencies.
Hyperinflation eased and Zimbabwe’s Gross Domestic Product per capita began to grow for the first time in decades, increasing by 7 percent in 2009 and 10 percent last year.
The country’s annual inflation as at the end of June as measured by the all items Consumer Price Index increased 0,4 percentage points to 2,9 percent, but remains largely stable and one of the lowest in the region.
“Zimbabweans’ outlooks on their personal economic situations improved dramatically over this period.
“In 2011, 39 percent of Zimbabweans reported they did not have enough money at times in the past year to buy food they or their families needed, down from 73 percent in 2009 and 80 percent in 2008.
“Now that they no longer need to pay Z$10 million for a loaf of bread, many Zimbabweans are finding such basics more affordable,” reads the report.
Zimbabwe’s GDP growth is expected to be around 9 percent this year.
Online Reporter