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Zimbabwe will have to undergo a painful process in the next two years to experience economic growth, the country's finance minister Mthuli Ncube said on Friday, pledging to implement austerity measures to get the crippled economy back on its feet. His comments came after he announced new measures on Monday, including subtle re-introduction of the local currency and a steep hike in taxes — which will lead to a rise in the cost of living, a loss in savings, as well as shortages of basic commodities. These were all characteristics of the 2008 economic implosion that left the country with a record high inflation rate of about 89 sextillion percent. Irked by Monday’s pronouncements, the largest labour movement the Zimbabwe Congress of Trade Unions (ZCTU) and other groups threatened protests, while there was anxiety among citizens, many of whom consider relocating to SA as an option in the event of a crisis. Presenting the transitional stabilisation programme (TSP), an economic blueprint ...

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