Home » Business » Chinamasa Defends Mugabe Economic Rebound Claim

FINANCE Minister Patrick Chinamasa on Thursday defended his boss, President Robert Mugabe, following his recent declaration that the economy was on the rebound.

Chinamasa was responding to a question in parliament from Kuwadzana East MP, Nelson Chamisa, who wanted to know what Mugabe meant when he said the economy was on the mend.

Mugabe made the remarks at a 2014 President’s Medal Shoot Competition prize-giving ceremony in Harare recently.

“Can the Honourable Minister of Finance explain what the president meant when he said the economy is on the rebound?

“Which world are you in that we are not experiencing? Perhaps you are in your own world,” Chamisa said amid applause from fellow MPs.

Responding to the question, Chinamasa said there was a significant improvement in the economy as compared to yester year.

“I am surprised that Chamisa does not know what is happening in the country. Tobacco output in 2013 was 140 million kgs, now its 185 million kgs. Tobacco farmers took home over $600 million,” said Chinamasa.

Chinamasa’s statement in parliament comes at a time when Zimbabwe’s anaemic economy is virtually on its knees.

The banking sector is in turmoil.

Industry has virtually ground to a halt with thousands of workers being retrenched, joining thousands of other jobless Zimbabweans.

The main opposition MDC-T led by Morgan Tsvangirai blames the economic crisis on mismanagement by Mugabe who has been in power since Zimbabwe’s independence from Britain 34 years ago.

But a defiant Chinamasa told Parliament that the current crisis was a passing phase.

“Yes industry is down but it will rise,” said Chinamasa amid laughter.

Source : New Zimbabwe

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