Average household monthly income drops to US$57 

Source: Average household monthly income drops to US$57 – NewsDay Zimbabwe

THE average household monthly income has decreased from US$75 in 2021 to US$57 this year amid concerns that millions of ordinary citizens are now living in abject poverty.

This was revealed in the latest Zimbabwe Vulnerability Assessment Committee (ZimVAC) report on income and expenditure.

“Given the fact that most rural households are agriculture-based and susceptible to climate-related shocks, there is a need for accelerated climate- proofed agriculture. This is in light of the average household monthly income which decreased from US$75 in 2021 to US$57 in 2022,” read the ZimVac report.

“The government, through the ministry responsible for finance has also put in place a number of measures which resulted in the following: The outturn for 2021 was generally good with year-on-year inflation ending the year at 60,7% from 348,6% recorded in 2020.

“Through the horticulture recovery plan, the ministry is also distributing virus-free sweet potato vines targeting 1,8 million households. This will go into supporting and improving the 36% of households which are consuming poor diets. The ministry responsible for education is also implementing the school feeding programme targeting all the schools.”

On health and wellbeing, the report recommended screening in all districts as the prevalence of global acute malnutrition of 7% was above the 5% World Health Organisation emergency threshold.

“Priority must be given to provinces with the highest prevalence. There is also a need to mobilise rehabilitation commodities for the management of severe acute malnutrition.”

The report stated that the foreign currency auction system continued to play its key role of being a dependable source of foreign exchange for the key sectors of the economy.

“Foreign currency receipts from exports, remittances and loans reached US$9,7 billion in 2021.”

But recently, industrialists who appeared before Parliament complained that they were not receiving enough foreign currency from the Reserve Bank of Zimbabwe auction system.