wilbert (not verified)

July 15, 2019

I have reservations on the upgrading of Zimbabwe from a low income to lower- middle income status as from 1 July 2019. The situation on the ground is that production has gone down due to the unavailability of foreign currency to import critical raw materials, new machinery to retool and the unpredictable economic operating environment. The current unavailability of electricity have further worsened the situation. The Zimbabwean market is mainly dominated by foreign products mainly from South Africa. Zimbabwe has been reduced to a retail outlet of South African products. Most of the products labelled 'made in Zimbabwe'' are only repackaged in Zimbabwe after being imported in bulk such as cooking oil, washing soaps and other basic commodities. The standard of living of the general populace is worsening as compared to 2014 and 2015. The question most Zimbabweans are asking is ,'What factors did you consider to upgrade Zimbabwe?. Most of the companies are retrenching due to high cost of production or suppressed demand. The currency reforms without adequate economic fundamentals in place has also caused distortions in the market. I think the data you are using in making upgrades Zimbabwe need to be looked into to determine its reliability and its adequacy.