Zimbabwe’s economy to remain volatile: Fewsnet

THE United States Agency for International Development (USAID)’s food security arm, the Famine Early Warning Systems Network (Fewsnet) says the country’s macroeconomic environment will likely remain volatile despite some relative stability witnessed at the end of 2022.
In its latest food security outlook covering the February to September 2023 period, Fewsnet said the local currency has continued to depreciate against the US dollar in both the formal and informal markets, where goods and services are increasingly priced in the US dollar or the South African rand.

“The macroeconomic situation will likely remain poor through the outlook period. Parallel market exchange rates, the prime driver of ZWL price hikes and inflation, are likely to keep increasing throughout the outlook period,” Fewsne