Zimbabwe’s Economic Woes: Opposition MPs Slam Government’s Inaction
Zimbabwe’s opposition MPs have expressed deep frustration and disappointment with the government’s failure to address the country’s economic challenges, following President Emmerson Mnangagwa’s State of the Nation Address (SONA) in Parliament.
Marondera Central MP Caston Matewu, speaking to NewZimbabwe.com, lamented the government’s inability to stabilize the economy, citing the recent devaluation of the new gold-backed ZWG currency by 44%. The local currency has continued to plummet, leading to price hikes in goods and services.
"We found the notion that the ZiG was backed by gold and other minerals false. The statement was hollow. We call upon the executive to make sure that they bring sanity to the economic situation in the country," Matewu said.
The opposition MP also criticized the government’s decision to devalue the currency after paying civil servants, stating that it has left many people struggling to make ends meet. "Many people are suffering. The government devalued the ZiG after paying civil servants. It means that everyone who was paid what they were paid was cut off," Matewu said.
Mnangagwa’s SONA did little to inspire confidence, with Matewu describing the speech as "hollow" and lacking new ideas. "To be honest, there was nothing new in that speech. We are not moving as a country. The speech was hollow, nothing inspiring and no new things and nothing to look forward to," he said.
The President did commit 50% of mining royalties to support the ZWG, but Matewu believes this is insufficient to address the country’s economic woes. Mnangagwa also announced that the Reserve Bank would allow for greater flexibility in the foreign exchange market, but Matewu remains skeptical.
The government’s inability to address the economic crisis has led to a resurgence of parallel market activities, driven by "speculative tendencies," according to Mnangagwa. However, Matewu believes that the government’s lack of political will is the root cause of the problem.
As Zimbabwe’s economic challenges continue to mount, opposition MPs are calling on the government to take immediate action to stabilize the economy and address the suffering of ordinary citizens.
