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Wednesday, May 29, 2024

‘Success of new economic measures hinges on implementation’

Story by Davison Vandira

GOVERNMENT’S latest fiscal and monetary measures meant to stabilise the economy have been welcomed by economists, who are projecting a positive outcome if policy instruments are embraced.

The country’s economy has been under siege in recent weeks, amid exchange rate depreciation and price hikes.

Treasury responded through a raft of measures to arrest the deteriorating situation and promote the use of the local currency alongside instruments to deal decisively with money supply growth.

Economists are confident the new measures will yield the desired results if the policy initiatives are implemented with sincerity.

“If these measures are given due respect they may give us some reprieve, however, it is critical to study our monetary issues and understand their dynamics to effectively come up with sustainable solutions rather than having to come up with stopgap measures which are temporary,” said an Economist, Dr Nyasha Kaseke.

Development Economist, Dr Prosper Chitambara noted, “These policy instruments introduced are good to drive the economy towards the desired direction, but in my opinion, they are not adequate to bring sustainability as monetary confidence has remained low which I think authorities should invest in moral suasion more.”

Economic experts are also impressed by the fact that the second republic has demonstrated commitment to solving the country’s economic puzzle by lending an ear to the concerns of the citizenry and acting accordingly.

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