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Mangwana blames cooking oil price hike on Russia-Ukraine war

HORIZONTAL

Zimstar News

Government spokesperson Nick Mangwana has blamed the country’s current pricing storm on the effects of the Russian invasion of Ukraine.

Zimbabwe has, in recent weeks, experienced massive increases in prices of goods and services amid growing despondency within a crisis-weary national populace.

Prices of fuel, bread and cooking oil, to mention a few, have seen steep increases, causing panic within government corridors.

Government has responded with knee-jerk policy pronouncements, among them the controversial ban on banks and lending institutions from issuing loans to corporates and individuals.

HORIZONTAL

Government came Sunday to announce another raft of measures which include the opening up imports on basic commodities by citizens, through the lowering of import tariffs and other accompanying measures.

Commenting via his personal Twitter account Sunday, Mangwana said the problems faced were not unique to Zimbabwe but were a global phenomenon.

“There is currency havoc in emerging economies. Countries like the UK are experiencing their highest inflation in 30 years and consumers are struggling with cost of living. Nearly half of world sunflower oil comes from Ukraine and 25% is from Russia. It’s not about Zim beloveds,” Mangwana said.

Government has also attempted to blame recent fuel price increases on the Russia-Ukraine war.

Zimbabwe is in the throes of a deepening economic crisis with businesses turning to cutthroat measures to remain viable.

Citizens have borne the brunt of the chaos.

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