Just In: Prices To Fall Next Month-Mthuli Ncube

Finance and Economic Development Minister Professor Mthuli Ncube says Government’s fiscal consolidation measures and other initiatives introduced into Zimbabwe’s economic programmes should see the prices of goods starting to drop from next month.

In a pre-recorded Governors’ Statement released here during the 54th Meeting of the Boards of Governors of the African Development Bank and the 45th Annual Meeting of the African Development Fund currently underway at the Sipopo Conference Centre, Professor Ncube said in part:

“The reforms being implemented by Government under the Transitional Stabilisation Programme of October 2018 to 2020, are beginning to show positive developments as the twin deficit challenge of the fiscal and the current account are coming under control.

“Government has started realising a budget surplus. On the other hand, with regards to prices, fiscal consolidation measures, reinforced with a tight monetary stance together with liberalisation of the exchange rate are containing inflationary pressures which are expected to slow down in the third quarter of the year,” he said.

Professor Ncube’s sentiments come at a time when the Zimbabwean economy is hemorrhaging with prices of basic commodities skyrocketing to astronomical figures.

-State Media