Impact Of Rising Domestic Inflation On Business Competitiveness - National Competitiveness Commission

Impact Of Rising Domestic Inflation On Business Competitiveness

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The stability of the macroeconomic environment in an economy is one of the basic requirements that determine the ability of businesses to thrive and hence the overall competitiveness of a country (World Economic Forum). High inflationary environment in Zimbabwe has been one of the downside risk to macroeconomic stability, which is one of the critical factor for competitiveness.

Consequently, high inflation of 557,2% in 2020 and 314,5% in 2023 have acted against business operations and growth across all sectors of the economy. Figure 1 depicts trends in the annual rate of inflation for Zimbabwe over the period 2016 to 2023.

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