There is Skyrocketing of Consumers' Goods and Services

[Manyano]

In recent years there have been skyrocketing on prices of consumers' goods and services in Tanzania caused by mismanagement of our economy; from planning to implementation aspect but at the end of the day; we consumers are the one paying the price.

What is to be done to make these people responsive and accountable to their actions? Your opinion will be highly appreciated.

:thinking:
​

 

[Nanren]

I think you need to rephrase your question.

You probably meant "There are skyrocketing prices of goods and services" which translates to "Sudden and rapid increase of prices of goods and services"

 

[Manyano]

Yes you are right, point taken

 

[Matarese]

mfanya biashara siku zote akipata nafasi ya kuongeza bei atafanya hivyo ili apate faida kubwa. Sasa wafanya biashara wa bongo wameshtukia kuwa mamlaka zenye kuthibiti bei hapa kwetu zimelala na zile ambazo zipo active kidogo wanapenyeza rupia. Hiyo ndiyo sababu kubwa ya bei kupanda kila leo. Angalia bei za mafuta, mwasiliano ya simu, vyakula, ada mashuleni au vyuoni, etc wabongo tunaibiwa sana, walala hoi hawana wa kumpelekea kilio chao.

 

[MaxShimba]

A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services.

Inflation occurs when the demand for goods and services is greater than the supply. It calls for the government to control inflation by adjusting levels of spending and taxation and by raising or lowering interest rates, which we don’t do in Tanzania. Another approach is the cost-push theory. It traces inflation to a phenomenon known as the price-wage spiral, in which workers' demands for wage increases lead employers to increase prices to reflect their higher costs, thereby sowing the seeds of a further round of wage demands. The next watercourse is the structural theory, which emphasizes structural maladjustments in the economy, as when in developing countries imports tend to increase faster than exports, pushing down the international value of the developing country's currency and causing prices to rise internally.

 

[Manyano]

Kiongozi mchango wako ni kama vile unashauri tuendelee kuwa hivi tulivyo? Nini kifanyike?

 

[Manyano]

Maxshimba: Good narration!! What then is your advice to consumers and those in power?

 

[MaxShimba]

Tanzania government must adopt export/import-friendly policies, while instituting the reform that will lead the nation to a greater agricultural productivity. Foreign trade will spur Tanzania's growth. Tanzania must increase goods manufacturing and industry developing, which will change the export composition from mainly agricultural commodities to industrial goods. Tanzania must put more efforts in electronics/computers sector, as we all know electronics/computers sector is booming a lot nowadays. Tourism remains an important economy driver, but our leaders must learn how to advertise said industry, and, Tanzania must have local tourists too.

Tanzanian leaders must make sure that the country is accession to the WTO which will enable the tiny nation to seek better international opportunities by having many free-trade agreements with developed nations.

Accordingly, more jobs will be created. Consumers will be as well producers. The circle of money will be more, and life will be easy.

 

[MaxShimba]

Tanzania government must adopt export/import-friendly policies, while instituting the reform that will lead the nation to a greater agricultural productivity. Foreign trade will spur Tanzania's growth. Tanzania must increase goods manufacturing and industry developing, which will change the export composition from mainly agricultural commodities to industrial goods. Tanzania must put more efforts in electronics/computers sector, as we all know electronics/computers sector is booming a lot nowadays. Tourism remains an important economy driver, but our leaders must learn how to advertise said industry, and, Tanzania must have local tourists too.

Tanzanian leaders must make sure that the country is accession to the WTO which will enable the tiny nation to seek better international opportunities by having many free-trade agreements with developed nations.

Accordingly, more jobs will be created. Consumers will be as well producers. The circle of money will be more, and life will be easy.

Do you think so.