Fuel Shortages Proof Economy Is Growing- Mangudya
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said shortages of fuel being witnessed in the country are driven by increased demand due to the growing economy.
He however said the fuel situation in Zimbabwe will improve before end of this month. Said Mangudya:
The demand for fuel in Zimbabwe has increased because the economy has been expanding. So, an expanding economy requires more fuel. Let us look at the other side of the story, the other side of the story is that the economy has been expanding and that is why the demand (for fuel) has been going up. We used to spend about US$60 million or so per month to US$80 million per month, but now we are on US$90 million to US$100 million per month. So, where is all this fuel going to? The fuel is going into the economy, and this economy is expanding