For some reason, the Zimbabwean government fancies itself to be a modern-day monarchy. Ever since they were elected into power they have eschewed Parliament like a plague opting instead to pass decrees as Statutory Instruments and temporary Presidential Powers.
To date over 231 Statutory Instruments have been issued all containing decrees that range from mundane to profound. From the inconsequential to the life altering banning of the USD.
They have all one thing in common, they are rushed, secretive and usually not well-thought out. Apparently businesses are not amused.
We had too many SIs and it’s vital for the state to stop recklessly issuing SI as a means of changing economic behaviour, the solution lies in policy consistency which comes as a result of well-researched policy interventions.
The Zimbabwe National Chamber of Commerce (ZNCC)
In the same vein, Government has been too slow to act on clear threats to an economic revival, the exchange rate parity is a clear example, same with command agriculture funding and now the IMT 2 per cent is a threat to business revival.
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