Story by Stanley James, Business Editor
ZIMBABWE has maintained single-digit inflation for six consecutive months for the first time since 1997, reinforcing macroeconomic stability and boosting confidence in the country’s prospects of achieving economic growth of more than five percent this year.
The sustained decline in inflation reflects the impact of tight monetary and fiscal policies aimed at stabilising prices, strengthening the Zimbabwe Gold (ZiG) currency and fostering a predictable business environment.
Latest figures released by the Zimbabwe National Statistics Agency (ZimStat) show that both the Zimbabwe Gold (ZiG) and United States dollar inflation rates remain in single digits, signalling continued price stability.
ZimStat Director General, Mrs Tafadzwa Bandama, said the trend marks a significant milestone for the economy.
“I am happy to inform you that the country has maintained single-digit inflation rates and this is quite encouraging, as this was once experienced some years ago. As we go forward, we anticipate the trend to continue and this is very important for decision-making.”
According to Mrs Bandama, the release of inflation data on time is also helping Government and the private sector in planning and decision-making.
“The data shows that Zimbabwe is achieving remarkable milestones in taming inflation. Remember this single digit is for the first time in as many years, so the focus is now on ensuring that the data is always published in time so that relevant stakeholders can make decisions and focus on the future in terms of using the data for future purposes,” she said.
Central bank authorities are projecting inflation to maintain single-digit levels driven by a tight money supply, fiscal discipline and more reserves to back the Zimbabwe Gold.
