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Mkulo for crisis meeting as inflation nears 17pc

Discussion in 'Jukwaa la Siasa' started by BAK, Oct 18, 2011.

  1. BAK

    BAK JF-Expert Member

    #1
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    [TD="class: contentheading, width: 100%"]Mkulo for crisis meeting as inflation nears 17pc [/TD]
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    [TD="class: createdate"] Monday, 17 October 2011 22:57 [/TD]
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    By Alawi Masare
    The Citizen Reporter
    Dar es Salaam.

    Finance and Economic Affairs minister Mustafa Mkulo has called a crisis meeting to find ways of taming the high cost of living indicated by rising inflation rate that has reached 16.8 per cent, the highest in a decade.With the freefalling shilling, unreliable electricity supply and food shortages, the rising commodity prices have eroded the purchasing power of Tanzania’s low income earners, pushing inflation levels to double digit since June.

    Mr Mkulo said a meeting scheduled for this week will bring together experts from the Treasury, central bank and other key government departments to plan on how to bring relief to the citizenry in the face of spiralling prices.
    “The matter is serious. The central bank governor (Benno Ndulu) and I will both attend the meeting to see what we can do to address the situation,” he told The Citizen yesterday in a telephone interview.

    The annual headline inflation rate for the year ended September increased from 14.1 per cent in August and economists worry that the rate would reach 20 per cent by the end of the year unless appropriate steps, including stabilising the shilling and putting an end to the power crisis, are not taken.

    The highest inflation rate in the last ten years was in March 2009 when it reached 13 per cent.
    Things started going awry in June at the height of the power crisis and food shortages when inflation reached a double digit of 10.9 per cent after a 15-month reign of a single digit inflation rate.

    Food and energy prices exerted the most pressure on the inflation with food inflation rising to 21.3 per cent from the 17.4 per cent in August.

    Food items that contributed to the increase in prices include sugar, maize, meat, bread, pastry, fish, milk, cooking fat, cassava flour and fruit juices.
    The rate of price increase of sugar was the highest at 16.4 per cent followed by fish at 6.0 per cent, maize and meat at 5.0 per cent.

    For non-food items namely gas and charcoal had a higher rate of price increase than the rest at 11 and 8.3 per cent respectively.

    Prof Marjorie Mbilinyi, an economist, blamed the rising prices on the weakening shilling, which has been left free falling to protect the interests of few exporters.

    “The central bank governor said recently the depreciation of the shilling is good for exporters, even if it is contributing to the rising cost of living, and a fall in people’s standard of living and rising food insecurity. But what if the rising cost of living results into riots in the streets?” she noted.

    She said food is a substantial part of the measure of the cost of living because the poor spend proportionately more on food than the rich.

    To get a single US dollar, you now require Sh1,765, which is a drop in the shilling’s value by a whopping 14 per cent since the start of the year. Experts predict the exchange rate reaching Sh2,000 by the end of the year.

    Dr Honest Ngowi, a Mzumbe University economics lecturer, projects that the situation could worsen as the shilling remains weak against the dollar while food and oil prices are high. According to Prof Mbilinyi, export dependence of Tanzania’s economy has meant that our financial system is also locked into the global fiscal system.

    Right now there is a major crisis looming in the global economy, which is expected to be far worse than that of 2008. Examples include the crisis in EU; the failure of the American economy to increase employment thus shrinking the market for goods produced both in USA and elsewhere.

    She adds that the failure of the government and the private sector to create more jobs and strengthen small-scale agriculture, livestock keeping included, is another major cause of inflation.

    “Without it, it is impossible to expand the domestic market and trade because of low purchasing power. The small elite class that depends on shopping malls has a preference for imported goods and services and that contributes to inflation,” said the Prof.

    “What is needed is the expansion of local production for local consumption, which depends on having masses of people who are employed and have dispensable incomes to purchase not only food but other necessities,” argues Prof Mbilinyi.

    The Uganda annual headline inflation rate for the year-ending September 2011 increased to 28.3 per cent from 21.4 per cent at the end of August 2011.

    Kenya’s overall inflation rate increased to 17.32 per cent in September 2011 from 16.67 per cent recorded in August 2011. The increase is attributed to higher food inflation rate (24.37 per cent) registered in year ending in September 2011.


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  2. Nyambala

    Nyambala JF-Expert Member

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    Hivi kuna watu wanategemea this guy mkulo kuwa na substance katika economic development ya Tz? The guy is a failure just like the Nchimbis, Tyson, Nundus etc.
     
  3. Injinia

    Injinia JF-Expert Member

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    We need to stop the limitless and meaningless importation of goods such as useless plastics that are brought into the country by the ton as well as other items that are either non-essential or can be manufactured within Tanzania.

    And there will be some morons even within the 'crisis meeting' (this inflation issue is not a crisis, we all knew it was coming) who will say, "Well our situation is much better compared to our East African neighbours"
     
  4. Mkenazi

    Mkenazi Senior Member

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    Oct 18, 2011
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    Kama makontena yanakuja kutoka nje yanakuja yamejaa vitu na yanaondoka yakiwa matupu unategemea nini? kwani hatuna cha kusafirisha nje ya nchi. Na inapotokea makontena yamebebe vitu si vyetu kama madini ni mali ya wawekezaji au magogo utakuta ni mali ya wizi hivyo hele hapitii kwenye mfumo wa hazina ya Tanzania.Sababu nyingine ni kuruhusu matumizi ya hele za kigeni katika matumizi ya ndani, hii inasababisha mahitaji makubwa ya hela hizo na kusabaisha kupanda bei na kama haitaji kubadilisha dolla ili apate shilingi shilingi itapataje nguvu?. Huu ni usimamizi mbaya wa hela. Mfano wa Afrika kusini ni mzuri kwa usimamizi wa pesa kama ifuatavyo;1. Huwezi kubadilisha fedha ya kigeni kupata rand bila kuwa na identification number (kama ni mgeni lazima passport itolewe photocopy).2. Huwezi kununua kitu kwa kutumia hela ya kigeni uwapo nchini mwao hivyo ni lazima ubadilishane na rand na kila exchange inapofanyika kuna ushuru wa serikali.Ninaamini kwa kufanya hivyo rand inapata nguvu pamoja na kwamba wana vitu vingi vya kusafirisha nje keanzia bidhaa za kilimo mpaka za viwandani.
     
  5. M

    Massenberg JF-Expert Member

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    Oct 18, 2011
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    Huo mkutano watakaa wa-sign posho na marupurupu mengine kisha mambo yanaendelea kama yalivyo. Ina maana haya matatizo ndiyo wanayastukia leo wakati yapo kila siku tangu miaka mingi tu iliyopita?
     
  6. Njowepo

    Njowepo JF-Expert Member

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    Ni busara kazi ikikushinda unawaachia wengine wenye uwezo!
    Am sure kuna watu sio raia wa nchi hii iweje hawana hata uchungu na nchi?
    Dola 1700 na inflation iko kwa double digit tunaenda wapi?
     
  7. A

    Ame JF-Expert Member

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    Oct 18, 2011
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    Nenda Mlimani City ndo utaona tulivyo na akili za kuazima eti vitu vina price tag za dola na euro sijawahi ona duniani kwingine kokote zaidi hapo kwetu... Nenda mahoteli makubwa utaona price tag zao....ukiuliza unaambiwa eti kwakuwa hizo sarafu ziko stable ndiyo maana wanafanya hivyo...Wachumi wa fedha mnisaidie ndo mnavyofundishwa kwenye theory za fedha hata mkawashauri viongozi kupitisha hizo sera?
     
  8. CAMARADERIE

    CAMARADERIE JF-Expert Member

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    Kwani tukiamua kuachana na madafu tuktumia dollar kuna madhara gani? Mbona Zimababwe wameweza?
     
  9. M

    Mdondoaji JF-Expert Member

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    Bubu,

    Tumesema sana humu jamvini lakini hakuna anayechukulia serious wacha uchumi uporomoke ndio wataelewa kwanini tunasema. They are not serious at all these guys. Dollarisation is a crisis but kwakuwa wakubwa wana maduka yao na majumba yao wanapangisha in US dollar hawataki kusimamia matumizi ya dollarisation nchini. Pia tatizo la umeme kama halijashughulikiwa ipasavyo mambo yatakuwa mabaya zaidi. Exporters wanaozungumziwa hapo ni makampuni ya madini ambayo ndio yanasukuma bei ya dollar wanatakiwa kusimamiwa ili kuokoa shillingi. Makampuni ya madini yawe yamekuwa registered nchini na kuzuiwa kutumia dollar in order to boost the demand for Tshs.
     
  10. F

    FJM JF-Expert Member

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    Mkullo alipewa uchumi unaoridhisha lakini kauvunjavunja na sasa tunaelekea direction ya uchumi wa Mwinyi! Mfumko wa bei unatisha, thamani ya shilingi inashuka kila kukicha. Sijui ni kwa nini rais anaona huyu mtu anafaa licha ya kuvurunda kwa miaka yote hiyo?
     
  11. MTWA

    MTWA JF-Expert Member

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    Hawa watatuua wajinga wakubwa. Hawafikirii kabisa, ni marekani hawa wanaleta vyandarua na kutusainisha mikataba ya kijinga. Hawa wamekuwa makondoo wanakwenda watakako. Inabidi kuwa Gahadaffi tu!!
     
  12. MTWA

    MTWA JF-Expert Member

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    Wala Mwinyi hakuwa hivi kama huyu Kichwa rungu, Mwinyi mzee wa watu aliruhusu tu kuingia vitu holella lakini hakupandisha inflation rate ya mtindo huu. Maana food prices haikuwa hivi, wala fuel. Hawa mabwege. Wasomi tunafanya nini Professor Ndulu BOT inakwaje sijui. Anamshinda Marehemu wa kughushi (Balali)
     
  13. MTWA

    MTWA JF-Expert Member

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    Hiyo siyo njia maana hata zimbabwe zaidi ya kuwa na hiyo dollar lakini inflation ilipanda hivyo hivyo. So ni hawa vioo ngozi wetu waache kuburuzwa na kuisimamia hela yetu walaa si mbaya kiasi cha kuitwa dafu
     
  14. L

    Leotena Member

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    Oct 18, 2011
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    Kama alivyokabidhiwa NPF ikiwa na uhai na alipostaafishwa kwa maslahi ya umma na mkapa ilikuwa hoi bin taaban kifedha na tuhuma lukuki za ufisadi. JK ana sababu za ziada kumchagua huyu jamaa sio competence peke yake kwani naona kama hana competence.
     
  15. BAK

    BAK JF-Expert Member

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    Mhhh! Kwa hiyo tuachane na peza zetu za madafu ili tutumie dollar? Hili halitasaidia lolote katika kuinua uchumi wetu kutokana na Serikali ya kisanii ambayo ipo madarakani.
     
  16. d

    dotto JF-Expert Member

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    "Suala la kupanda kwa gharama za umeme ni issue ya kibiashara na wanasiasa wasiingilie" by Jakaya Kikwete ( Jan 2011). Hakujua au hajui madhara ya kupanda kwa umeme katika nchi yake> cost of production hajui maana yake nini na kuwa yeye aweza compete na other states products bila wasiwasi. Tumelimchagua kwa mbwembwe na tambo kibao hakuna wa kulaumu mwingine. Chaguo la Mungu!!Hakika tusimchezee Mungu tena kwa mara nyingine kwa maono yasiyona mashiko.
     
  17. Kang

    Kang JF-Expert Member

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    Hakuna tofauti ya kuweka bei kwa Dola, Shillingi au Krona.
    Cha muhimu ni kuwa wanapokea shillingi kama malipo halali katika conversion rate ya kweli.

    Ukiweka Shillingi ambayo iko unstable matokeo yake kila siku inabidi uwe unabadili bei, hii ina costs zake, fikiria suppermarket inabidi wapite kote na kale ka bastola cha bei na kubadili sticker, kubadili bei kwenye inventory systems, kuchapisha matangazo mapya etc. same hotelini hasa hoteli za kimataifa ni rahisi zaidi kudeal na currency moja.
    Agalia: Menu cost - Wikipedia, the free encyclopedia

    So kuweka bei kwa Dola ni efficient zaidi kuliko kuweka bei kwa shillingi, inapunguza gharama za uendeshaji ambazo zingebidi zilipwe na mteja.
     
  18. Nyunyu

    Nyunyu JF-Expert Member

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    Mpeni hili wazo JK, maana he is in love with the US. Atameza kama lilivyo!!
     
  19. Felixonfellix

    Felixonfellix JF-Expert Member

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    Jamani tuna hali mbaya zaidi tunavyozidi kuendelea, kila kukicha ni afadhali yajana.
    Hivi hawa watu wamewekwa katika nyadhifa hizo kwa maslahi ya kitu kipi?
     
  20. TOWNSEND

    TOWNSEND JF-Expert Member

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    unazungumzia madaraka alieyempa na mkulo wote ni sawa sawa uwezo wa kufikiri kwani ,,,,,,huja muona jana anacheka tu anaona sawa kuleta wawezekezaji mahali ambapo wakulima wadogo wanamazao yanawaozea hawajui pa kuuza
     
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