Zim economy on slow mode

Markets
THE new government started off in August this year and has a daunting task to turn around the fortunes of this country.

THE new government started off in August this year and has a daunting task to turn around the fortunes of this country.

Growth projections for the year have been revised to 3,4%.

The Finance minister Patrick Chinamasa told our sister paper NewsDay that the country requires real money not small money to grow.

The issue of liquidity has been a major impediment in this economy as it is the fuel required in the economy is to function effectively.

NewsDay business reporter Victoria Mtomba (ND) spoke to renowned economist Daniel Ndlela (DN) on the performance of the economy after the July 31 elections. Below are exerpts:

ND: How has the performance of the manufacturing sector and the economy been as whole since the coming in of the new government in August to date?

DN: It is always difficult to look for change, transformation or performance of a sector like the manufacturing sector and the economy as whole in a short space of time such as one quarter or anything less than six months.

One thing for sure is that the economy has been on a slow mode since the beginning of the year and the mode accelerated from the end of the first half of the year in anticipation of elections.

Since the coming in of the new government in August to date, the situation has obviously not shown any signs of improvement. Reports companies have continued to be placed under judicial management while others are going into liquidation abound, as seen in the headlines.