Zimbabwe economy crisis worsens

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The fuel crisis which has worsened in Zimbabwe in the New Year has a devastating impact on an already fragile economy.

Government has delayed addressing the chaotic pricing system, aggravating the fuel crisis.

However economist, Takunda Mugaga, says the situation is still manageable.

Also many companies in Zimbabwe have not re-opened for the New Year because they have failed to acquire foreign currency for their operations.

They claim they could shutdown in ten days due to the difficult economic situation in the southern Africa country.

The Confederation of Zimbabwe Industries says most of the businesses are left with less than a month’s supply of foreign-sourced raw materials.

The federation’s President Sifelani Jabangwe says the country’s foreign currency shortages need to be addressed urgently.

“We are having a bad start and they say a good start makes a good ending, so if we continue on this bad start it will affect the remainder of the year. Our members closed in November and some closed in December, they are yet to open because they have yet been able to buy raw materials..”