THE leading supplier of timber Border Timber Limited reported lower wood production due to disturbances in production, logistical bottlenecks that prevail during the COVID-19 lockdown restrictions.
Zimbabwe’s economy experienced devastating effects of the COVID-19 pandemic that resulted in the government introducing tight lockdown restrictions which affected both local and exports market.
The judicial manager of Border Timber Limited Peter Lewis Bailey said that the measures that were implemented by governments in the Southern Africa regional export market.
“The measures affected the business’s supply chain, reduction in aggregate demand and logistical bottlenecks,” Bailey said.
“There has been an improvement in the inflationary pressure in the economy with the annual inflation rate dropping.”
“The company is however optimistic since the inception of the foreign currency auction system which has seen some improvements in the macro-economic fundamentals,” Bailey said.
“Though it remains uncertain as to when a pandemic will go away, the lockdown restrictions are being eased and the local and regional economies are already showing signs of recovery and our management continue to do an excellent job in difficult circumstances,” he said.
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