Solid Foundation

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Vesta says that it saddens her to see the man Teddie sitting in the same place "from morning to evening,"

retired couple Teddie and Vesta always imagine that they Live Out their Golden years with dignity.

He is 85, and has served a company for 46 years as a cleaner, and finally rises to a receptionist. Vesta says that the Inflation has robbed you both of a comfortable rest.

A year ago, Teddie monthly pension was worth $80 (£66), it is now worth $10.

"I'm sad, when I was sitting with My Beloved in this corner, from morning to night," Vesta, the BBC is told.

"I would love to give it a banana, an orange, or a cool drink. But we can't afford it. A banana costs $0. 40. "

The signs of economic crisis are everywhere. Supermarket trolleys are hardly linger ever full these days, and shoppers consider their purchases.

The prices for basic foods such as sugar and Cooking Oil , a price increase of 200% in the 12 months to June, according to official statistics. Thus, The Price of health care has.

Meanwhile, a fivefold increase in the cost of bread since April.

More on Zimbabwe's cash crisis:

in June 2019, the Inflation already hits was 98%. In July , The Local currency, the Zimbabwe dollar, again after a decade with the US dollar and other international currencies. The annual Inflation rose to 176%.

The Local currency, the value is further exposed to the government's fall but now, the publication of Inflation statistics, citing The Change in the currency.

The last economic crisis, marked comes as Zimbabwe's President Emmerson Mnangagwa his first anniversary as an elected leader.

Robert Mugabe has been expelled, as his long-time ally-turned-swept rival to power with military assistance in November 2017. The elections were held on 30. In July of The Following year.

President Mnangagwa, the era of the "second Republic ", is based on the Recovery , the anchoring of democracy and the reversal of decades of ruinous policies under his predecessor.

the people in Zimbabwe are believed to be First of many for him.

they were hopeful that the ousting of Mr Mugabe use to persuade investors, bringing much-needed cash injections to local businesses.

But the hope is faded, and the old ghosts are back.

the fuel is scarce and the government says that it is possible to buy enough foreign currency. Rolling power outages are back, too.

The Authorities debt, aging power plants and low electricity prices, as well as the worst drought in 40 Years threatens to shut down the main hydroelectric plant in Kariba.

A constant hum of The City - the sound generators, such as boutiques, restaurants, super markets trying to stay in business. A seven-fold increase in the cost of fuel has forced since January, The Price of the goods added, and Inflation .

"Not a quick fix'

the representatives of the business community to say, power outages, sometimes up to 18 hours of the day, cost the country $200m (£165m) in lost revenue.

Newly-appointed energy Minister Fortune Chasi believes, there is no quick fix.

Despite the recent 300% tariff hike the power supply is still heavily subsidized by The State . Zesa, The State is virtually broke.

"the anger and The frustration is understandable and should be capable entity," Mr Chasi translate into the creation of a life tells the BBC.

"Our rate is still below the cost-effectiveness, and we have a delicate product. This is why I always say people should pay their bills: Zesa $1 is payable. 2 billion

"Everybody owes to each sector money. "

Economists say the Inflation is expected to continue to increase. Local production remains low, causing an excessive dependence on imports and lack of foreign currency.

government spending, meanwhile, is exaggerated, and the confidence of investors is low.

President Mnangagwa, seen here lighting a torch on Independence Day , says he wants to deepen democracy in Zimbabwe

The Authorities have introduced austerity measures - including reducing subsidies on fuel, electricity and health care, the prices for the people in Zimbabwe. President Mnangagwa believes that these are essential to increase production.

"It wasn't easy. Good soil was celebrated covered, with your help," The President said in a televised address to The Nation , is marking a year since his election victory.

"A Solid Foundation has been laid for more and bigger profits in The Future ," he continued, "and while the beginning can be painful, in the medium to long term, more jobs, economic stability, growth and development will deliver. "

austerity measures bite, say

critics of The President Mnangagwa, he is Flying Blind and hasty in the implementation of bad policies without consultation. Do you think he is leading Zimbabwe back in 2008.

That was the year in Zimbabwe, on the record books. Inflation peaked at 500bn%. Bank notes from this time, including One for 100 trillion, are now collector's items.

Economist Godfrey Kanyenze said the country could. on the threshold of hyperinflation

"that would be a Hyperinflation when the monthly Inflation rate rises above 50%," he explains. "In June, he was at 39%. We are currently 11% short of hyperinflation, the chronic high Inflation is. "

He does not believe that the Zimbabwean government has come up with a feasible, long-term plan for Recovery .

BBCZimbabwe experienced chronic high Inflation ," Godfrey Kanyenze
Economist,

"commit Most of the developed countries, the social impact analysis. Before you implement a policy, which you project the likely social impact, then they will say prepare for it," Mr Kanyenze.

"But it was not that the preparation, especially in the area of wages and salaries. "

A new measure, however, succeeded in cushioning the people in Zimbabwe against the rising costs. Public Transport subsidies mean now, commuters pay about a quarter of what private operators charge for the same trips.

Mr Mnangagwa's supporters argue that it is increasingly unrealistic to expect a quick solution to dampen a crisis decades in the making.

There are some slight, but. Zimbabwe says it has paid some of his debt to South Africa 's State Power utility, Eskom, paving led the way for some power.

meanwhile, the government has warned that the economy will shrink this year. This is hardly good news for the pensioners as Teddie and Vesta.

you don't want to hear that before things get better for the people in Zimbabwe, you're likely to be even worse.

life, personal finance, inflation, africa economy, pensions, zimbabwe after mugabe, money, zimbabwe

Source of news: bbc.com