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"Although Policy Direction Is Ok, Severe Human Suffering Will Cause Real Instability" - Former MDC MP

4 years agoFri, 23 Aug 2019 09:52:35 GMT
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"Although Policy Direction Is Ok, Severe Human Suffering Will Cause Real Instability" - Former MDC MP

Former opposition legislator for Bulawayo South, Eddie Cross, has said that the suffering of the general populace will likely result in instability in the country.

Cross said that the suffering of the masses outweighed the dividends picked from the transformation which Zimbabwe embarked on when president Emmerson Mnangagwa was elected into office a year ago.

Speaking to Zim Morning Post, the economist said:

I am very happy with the overall policy direction adopted and with what has been achieved so far but the cost in terms of human suffering has been pretty severe and is now creating the possibility of real instability.

But let’s not lose sight of the very considerable achievements: They have brought the fiscal deficit under control and imposed real discipline on the budget.  They have reduced government expenditure, but not enough. They have allowed inflation to devalue the mountain of debt taken over from the Mugabe regime, we cannot do that with external liabilities but can do it for local debt and this has reduced domestic debt to manageable levels.

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Cross also said that the government should be applauded for efforts to service the national debt, efforts to reengage the international community and commencement of National healing and reconciliation.

He also observed that the government was in the right direction by putting in place mechanisms to create a “market-driven economy and a free market for foreign exchange”

More: Zim Morning Post

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