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Zimbabweans Question Mugabe’s Positive Economic Outlook

  • Chris Gande

President Robert Mugabe addresses the nation as Zimbabwe celebrates 30 years of independence from Britain, in Harare, 18 Apr 2010

President Robert Mugabe addresses the nation as Zimbabwe celebrates 30 years of independence from Britain, in Harare, 18 Apr 2010

President Robert Mugabe on Monday told the nation that efforts to resuscitate the economy are heading the right way.

Mr. Mugabe made the remarks at the National Sports Stadium at an event to mark Zimbabwe’s 36th independence anniversary.

He said despite targeted sanctions the country has resuscitated companies like Lobels Bread, Cairns Holdings, Rio Zim, Delta Corporation, Border Timbers and Olivine Industries.

Some of the companies he mentioned have always been operational and there is no change in the way they are conducting their business.

“The resuscitation and formation of new companies have helped create jobs and enhance fiscal space and increased production…government has found a financier and contractor for the Beitbridge and Chirundu Road to be constructed for an estimate $2 billion,” said Mugabe.

He added that power shortages have eased and signed a loan with a bank that enables Zimbabwe to revive Munyati, Harare and Bulawayo power stations.

Economist, Busisa Moyo, also president of the Confederation of Zimbabwe Industries echoed the same sentiments, noting that there is still a long way to go to bring back to life some of the companies that have shut down.

Moyo said, “Well, yes companies have been revived … companies have been expanding and we are doing the best that we can.”

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