The unanimous endorsement of the 91 year old Robert Mugabe as the Zanu PF’s candidate in the 2018 elections can only deepen the economic malaise faced by the country. Mugabe has ruled Zimbabwe with an iron fist since the country’s independence from Britain in 1980.
The once bread basket of Africa has been turned into a nation of vendors and beggars with over 85% of the working population in the informal sector, yet the official unemployment rate is 5%, the same as the US which has achieved NAIRU a rate that is happily low, but not so low that the economy and job market risk overheating and causing inflation. The realistic figure in Zimbabwe adds to 90% unemployment, the 2016 outlook is bleak with more hardships and company closures expected.
South Africa’s GDP per capita of US$6618 is almost 7 times higher than Zimbabwe’s US$953 and the country’s US$4 billion…
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