Government has announced a $400 million cost of living adjustment package for civil servants with effect from April 1, 2019 that will see the least-paid employee taking home over $600 as it moves to cushion its workers from the obtaining economic challenges.
Government has set a target of reducing its budget deficit to five percent of Gross Domestic Product (GDP) this year from 12 percent in 2018, riding on milestones achieved so far under its Transitionary Stabilisation Programme (TSP).
If we are to achieve Vision 2030 as a nation, our industrialisation strategy must be anchored on three key pillars, namely industrialisation, competitiveness and regional integration as we turn the country from an exporter of minerals and primary products to a key global net exporter of processed goods.
Finance Minister Mthuli Ncube says government is staying out of the newly launched interbank market and will only intervene to deal with any volatility. After a second day of foreign currency trading on Tuesday, trades remain largely restricted.
Prof Mthuli Ncube Path to Prosperity
As we work to put Zimbabwe’s economy back on its feet, recovery is the word.
The Zimbabwean financial situation, its industry, its businesses, have all been in a state of stagnation for far too long. Recent moves have been jolting to some, but this jump-start treatment is precisely what is needed for this patient to recover, to put this stagnation behind us.