The Confederation of Zimbabwe Retailers has blamed the growth of the black market for foreign currency for fuelling the current wave of increases in prices of basic commodities. Over the past few days, prices of most consumables have been sky-rocketing, leaving consumers in a lurch. The shortage of foreign currencies in the formal banking channels is forcing most retailers and manufacturers to source from the black market at a premium in order to continue importing goods. Government should promote use domesticate raw materials building the capacity of local source suppliers like agriculture as over reliance on imports is dangerous to an economy. (Herald)
Foreign currency illegal market fuels price hikes Featured
Latest from Admin
Leave a comment
Make sure you enter the (*) required information where indicated. HTML code is not allowed.