FMP pines for sustained stability

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FIRST Mutual Properties (FMP) says sustaining the “relative” economic stability in the country would help stimulate demand in the property sector.
This comes against the backdrop of a 516 percent depreciation of the local currency against the US$ during the company’s financial year ended December 31, 2022.

“Annual inflation rose to 244 percent at year-end from 61 percent in December 2021. However, inflationary pressures started to recede during the last quarter of the year due to monetary policy interventions by the authorities to limit money supply growth and ‘speculative’ foreign currency activities,” FMP chairman Elisha Moyo said in a statement accompanying the company’s financials for the period.