Finance minister Prof Mthuli Ncube has done his all with great shocks and surprises to the economy, and frankly, the man has done the best, with most of his moves being a necessary evil but the results are yielding little to no huge outcomes.
If Zanu-PF government would have employed anyone else for the job, I’m sure they would have done just the same, but Mthuli Ncube had two major advantages to himself, he has full support of the president in all his moves, good and bad policies, while still he has the guts to dare do the undone.
When you know everything that needed to be done has been done and you have no more surprises, especially when all your surprises are done from the magic hat, we need to start asking the most important, what next for Zimbabwe.
Mthuli was given enough room to articulate his policies, launch them and align the RBZ to pronounce monetary policies that go along this vision and direction.
When he joined the government, there was no money in the fiscus to fund salaries and wages against the deficit, the 2% evil was necessary to boost revenue, but it only made the poor people poorer.
Zanu Pf had to climb down from the indigenization act as they try hard to attract investment from various players, who rather would have only invested in a Zimbabwe where they control their stake, this was a major policy shift to test the waters, amongst many has he tried.
When he joined the government, there was no money in the fiscus to fund salaries and wages against the deficit, the 2% evil was necessary to boost revenue, he surely did get the revenue but it only made the poor people poorer.
Zanu Pf had to climb down from the indigenisation act as they try hard to attract investment from various plyers, who rather would have only invested in a Zimbabwe where they control their stake, this was a major policy shift to test the waters, amongst many has he tried.
When I had an interview with him during the independence commemoration, the Finance Minister was upbeat that by August, the economic engine would have turned and soon Zimbabweans would be enjoying the benefits of his policies
This was not so, and in the next three months, we would have completed a year, unfortunately of great economic pain and agony, with most people being patient and giving his policies a chance.
Mthuli Ncube has been very stingy in his budget towards salaries and wages. This is a painful policy but very good. Money supply spurs inflation and this has a huge ugly effect.
The finance minister has only managed to arrest the salary bill and allowed the expense bill to go haywire, this causes untold suffering to the masses, you cant detect to the supply market and allow the independence of the market system, the effects are drastic
Unfortunately, his good policies are not bearing fruit, harsh as it may sound, I don’t believe they need more time. If we give this more time we are only doing so at the expense of the already suffering population.
Even If the MDC party today took over the finance ministry and we give them a full year, they will still not deliver, something else is purely wrong with our economics and we don’t need to waste more time fixing the economy when it is now obvious that our economy is a result of our politics.
When are we going to brave up and get serious about fixing the politics?
After hyperinflation, do we need to see those zeroes coming in again, do we need to increase salaries and wages to three-digit figures and more to earn a better living, what does that do to inflation.