Chinamasa admits to economic rot

via Chinamasa admits to economic rot – NewsDay Zimbabwe May 19, 2014

FINANCE minister Patrick Chinamasa last week admitted before Parliament that the economy was in tatters, but blamed the rot on economic sanctions imposed on Zimbabwe by the West 10 years ago.

Chinamasa equated the economic quagmire in Zimbabwe to a person knitting a jersey and a mad person destroying the knitted jersey afterwards.

However, the MPs challenged him to be explicit in his economic policy proposals and explain how he intended to ensure small and medium enterprises would turn around the economy as mainstream industries were closing down.

Kuwadzana East MDC-T MP Nelson Chamisa also challenged Chinamasa to explain if the government would be reshuffled given the failure to turnaround the economy.

“We are aware that our economy is not stable and that industries are down, and what are you doing as a ministry to help the nation as the majority of people believe that there would be a change,” Chamisa said.
“Is the government going to be reshuffled because ministers have failed to turn around the economy?”

But Chinamasa, in response said: “First of all, I would like to thank the MDC-T members for admitting that our economy is down due to sanctions.  One of the major problems is that we can equate this to a jersey that is being knitted by an insane person – whereby one does the knitting and then the other is undoing the knitting.

“I did not say who the insane person is, but when we are talking about the development of Zimbabwe, there are some who are there to develop and others are there to complain and destroy. These are the same people who are requesting that sanctions should be imposed.”

When Chikomba Central  MP Felix Mhona  (Zanu PF) asked him to explain what policy interventions government had to ensure the informal sector deposited money in the banking sector and whether there would be attractive interest rates and tax incentives for that, Chinamasa said the government was doing studies to find out the size of the informal sector and how they could formalise it.

He said the 2012 national census showed that there were 5,8 million people working in the informal sector.

 

COMMENTS

WORDPRESS: 29
  • comment-avatar

    Always excuses. How do you think you will get investment when you are forcing the only solid companies left to give 51% shares away. Do you think anybody is going to bring his business here so that some partner who cannot even form their own company has control of you business. What sanctions are you talking about? No one wants to invest in Zimbabwe and be a Partner to the Mliswas of this world. Who will invest money in a country that has no solid monetary policy. Where the big banks are threatened day in and day out. Sort yourselves out first and admit you have failed. The admission of failure is the beginning of recovery.

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      Chinamasa is a total failure. Through out his political career he has not achieved a single thing other than get Bennett locked up for a fight he lost.

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        Kevin Watson 8 years ago

        He is other claim to fame is support Mugabe in destroying Zimbabwe with the theft of farms and now businesses. News flash for the idiot Chinamasa there were no sanctions on Zimbabwe only on people like he and Mugabe as well as Zimbabwe Defence Industries who were buying arms that were used to kill Zimbabweans.

      • comment-avatar
        ZANU PF SHARE THE MONEY 8 years ago

        Dube wandipedza. You made my day! Kkkk

  • comment-avatar
    mandy 8 years ago

    The wheels are coming off. Of course it was due to happen. It was just a question of time. But the Zimbabwe situation is peculiar in that this is self induced. The motivation is clear power at all cost for which Zpf tries to perpetuate patronage. But because money does not grow on trees the chickens are home to roost.

    What is the solution. Only one: resign zpf;
    resign Mugabe;
    resign Mugabe cabinet
    resign Zimbabwe parliament
    resign Zpf election commission
    resign and depart

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    roving ambassador. 8 years ago

    This regime is so useless we can actually do without them. Yes introduce more sanctions and freeze the accounts of all the stolen loot so they realise crime does not pay.
    unfortunately our stolen money hidden away is being looted by third parties. Mugabe’s loot is being syphoned no wonder he is running around like a headless chicken.

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      JOHNSON 8 years ago

      I AGREE WITH YOU ROVING AMBASSADOR. WE HAVE ACTUALLY BEEN DOING WITHOUT THESE GEEKS FOR MORE THAN A DECADE NOW. THE ECONOMIC BEHEMOTH IS ON AUTO PILOT. THANKS TO GOD. BUT BELIEVE YOU ME IF THE ALI BABAS CONTINUE TO ROB THE TRAIN WE WILL END UP WITH STONE AGE ECONOMICS.

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    Sonofngwazi 8 years ago

    TO HELL WITH THIS IDIOT. FYI START WITH THE BASICS U NEED SOUND INTERPERSONAL SKILLS STOP RANTING ABOUT WEST AND GET RID OF CORRUPT OFFICIALS INCLUDING U PERIOD!

  • comment-avatar
    Clive Sutherland 8 years ago

    Chinamasa clearly has no idea what sanctions are, Rhodesia had 100% comprehensive sanctions applied against it, Zimbabwe as a Country has never had sanctions applied against it, stop deceiving Zimbabweans Chinamasa!

  • comment-avatar
    sifiso 8 years ago

    But dip down in their minds they know that they had failed but they don’t want to admit they keep on telling people about sanctions durng unit gorv those sanctions where there but the economy was growng now what changed

  • comment-avatar
    Jono Austin 8 years ago

    If there are sanctions why is the country allowed to export anything to the West and why is it allowed to import Mercedes and Range Rovers from Germany and Britain?

  • comment-avatar

    Wouldnt you think by now this bunch of brains ( use that loosely) would have utilised their many friends in the EAST to find a way round the proverbial sanction.

    Truth be told ,whatever they have got now whether it be from the East they skim off a sizeable chunk for their own personal use. then they buy cars. The rest is unaccounted for. Even if sanctions are lifted the sleazy trend will continue and they will find another excuse for the state of the economy.

    STOP ROBBING THE NATION !

  • comment-avatar
    John Thomas 8 years ago

    The first step to correcting errant behaviour is to admit such. Without this the required corrections cannot be made.

    These ZANU specimens are delinquent till they die

  • comment-avatar
    JOHNSON 8 years ago

    WE ARE SURPRISED THAT CHINAMASA ‘KNITTED’ SOMETHING. WAS IT A HAT OR A SCARF TO STRANGLE US? CAN HE BE EXPLICIT AND NOT TALK IN FABLES. THE LAST THING THE ECONOMY NEEDS AT THIS URGENT TIME IS PARABLES.

  • comment-avatar
    JOHNSON 8 years ago

    CHINAMASSER IS A HOOLIGAN WHO BELIEVES IN SCORCHED EARTH METHODS SUCH AS POISONING WELLS…..FORGETTING THAT THE YOU SHALL RETURN TO THE SAME WELL IN HARD TIMES. WHY ARE YOU DOING ALL THIS NONSENSE.

  • comment-avatar

    A poor carpenter will always blame his tools!

  • comment-avatar
    Saddened 8 years ago

    The childish comments made by Chinamasa is hardly the language of a Finance minister. No wonder he cannot come up with a turnaround strategy for the economy when that is the level of his intellect. The rest, including the one at the top, are no better so we are indeed doomed!

  • comment-avatar

    There are NO Economic Sanctions. These idiots seem to think the more they cry sanctions the more believable it is.

  • comment-avatar
    munzwa 8 years ago

    shame, why blame poor old Chinamasser when he has such a ball and chain round his neck like his boss.@ Sifiso, I agree, deep down they know their failures and are desperately looking for face saving avenues to get out of the mess they have created… maybe the passing of “you know who” will be the one….

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    kagamba 8 years ago

    Problems are not solved by the same minds that created them. I have lost respect for ZanuPF they have failed period you can’t keep on singing the sansactions songs all the time to hell chinamasa I have known this man since 1983 he hasn’t achieved a thing except fighting & farm grabing I remember those days the wife used to bring farm stuff to sell @ school you shld go & do farming

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    jobolinko 8 years ago

    There was signs of recovery during gnu were sanctions off and reinstated after your party won the elections ,its high time chinamasa admit its all about politics destroying this country you thought it was going to be easy

  • comment-avatar

    China…masta…geddit? Another equal opportunity idiot.

  • comment-avatar
    todii zvazvo 8 years ago

    Chinamasa is clueless

  • comment-avatar
    Cde Hondo 8 years ago

    For how long shall my comrades in arms keep on pointing fingers and giving excuses. Challenges are ever there in life even at individual level, but what matters is how you strategies and overcome them. If you just sit and cry, then you are a total failure. Sanctions, whether they be there or not, they are challenges and what we need is to work a plan on how to deal with them than to gloat about them day and night. If you one lives a life of excuses, they will surely never achieve anything meaningful in life because one thing about life, there is always an excuse for almost anything. It’s either you choose to glory in the excuse or you find away of making it possible despite the impediments.

  • comment-avatar

    By imposing the so called sanctions the West gave our dismally performing government a very good scapegoat. Even after almost everyone was removed from the sanctions list it is still a valid excuse for non-performance. Why not just admit the failure, thrown in the towel and give others a chance.

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    maita 8 years ago

    ZanuPF does not want sanctions lifted because it will blow them into the open and show their incompetence. At least with the so-called sanctions which Tsvangirayi once called mere individual restrictions, they have enough excuses for the total failure, but they have the guns, the security forces behind them so they rule by fear and we will die under fear. God will never leave us alone, he is about to answer now, and its going to be now.

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    dennis chikuve 8 years ago

    What else is new vaChinamasa? You and other Zanu PF cronies have unashamedly perfected the art of the blame game. I am surprised that you still have not blamed the dirty US dollar notes on sanctions 🙂 Why not take responsibility for once for your flawed policies and arrogance. Admitting to your mistakes might lure foreign direct investment that you so desperately need. As they say, reflection on one’s decisions helps in avoiding same in the future. Engage all Zimbos in trying to find the right mix of strategies to jump start the dead economy instead of going to the same dead brain ministers who are only interested in owning the latest model car which are sold at 5x the prices in North America and eleswhere. Get it?

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    Rwendo 8 years ago

    Either Chinamasa didn’t get the memo and is still reading from last year’s “sanctions” game plan; or else ZANU PF has felt the boomerang effects of chanting “corruption” and has decided that reverting to the tried and tested “sanctions” is safer.

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    masvukupete 8 years ago

    “One of the major problems is that we can equate this to a jersey that is being knitted by an INSANE person – whereby one does the knitting and then the other is undoing the knitting.”

    So they are both insane, explains why the knitting can never succeed.