WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2003-11-19 Posted By: Jan
From the News Archives of: WWW.AfricanCrisis.Org
Date & Time Posted: 11/19/2003 5:39:11 AM
Zim: Real Inflation almost 1000%
[Note. Isn’t it amazing to see how the entire economy has imploded simply by destroying 4,500 white commercial farmers, and generally running whites, and professional blacks out of the country. It goes to show just how much they contributed to the country’s economy. Jan]
Zimbabwe’s annual rate of inflation, the highest in the world, soared to new levels, reaching 526 percent in October, according to figures issued on Tuesday by the state Central Statistical Office (CSO). Compared with prices a year ago, the cost of living went up 525,8 percent, against September’s annual rate of 456 percent. Calculated on a monthly comparison of prices, inflation in the month to the end of October was 25,3 percent, the highest ever in a single month. The CSO said that the biggest contributors towards the sharp rise were increases of 1 179 percent for telephone charges, 983 percent for vehicle running costs, 952 percent for school textbooks and 913 percent for shoes. Economist John Robertson said the CSO’s figures gave an appearance of inflation much lower than the real rate. “It is evident that the recent steep increases in rates and rentals in the Harare area have not been captured, and that education and health fees recorded are being drawn from a narrow sample of state-run facilities,” he said. The CSO also used the controlled prices of basic commodities, like maize meal, the national staple food, flour, sugar and fuel, which are ignored by retailers who charge far higher prices.
Economists say misguided economic policies, such as price controls, a regime of rock-bottom interest rates and unchecked state spending, account for the uncontrolled escalation in prices. President Robert Mugabe accuses “British interests” and “greedy hoarders” for the crisis. Zimbabwe is described as having the fastest-shrinking economy in the world, with gross domestic product having fallen 40 percent in the last four years, and estimated to drop 18 percent this year alone. Export earnings have plummeted to 1977 levels, largely as a result of the destruction of productive agriculture following Mugabe’s seizure of white-owned commercial farms. Stricken by the sudden evaporation of hard currency earnings, mining and manufacturing have recorded similar falls, while the value of the national currency has fallen from Z$12 to the US dollar in 1997 to Z$6 500 to the US dollar on the semi-official parallel market now.
Source:Pretoria News (SA)
Published:Wed 19-Nov-2003
URL: http://www.zwnews.com/issuefull.cfm?ArticleID…br>