By Owen Mandovha
A series of economic policies announced by Treasury and the Reserve Bank in the last few days have been described as perfect response to boost industry against external pressures, while cushioning government workers and the vulnerable.
Treasury’s assortment of measures announced last Friday will allow exporters to retain more foreign currency from proceeds while allowing importers and companies to pay duties and taxes in local currency to expand its use.
This Monday the Money Policy Statement was a boon for the tourism industry, cotton and tobacco, with one economic commentator describing the move as timely policy refinements from a government that is proactive to contain internal economic pressures.
Mr Langton Mabhanga, the Secretary General of the National Business Council of Zimbabwe said: “There is no doubt that the Second Republic is trying to achieve its set targets and improve the economy and the lives of all Zimbabweans. It is always reviewing the existing policies against the obtaining environment with the sole purpose that it remains ahead of the pack. Last week Friday, we witnessed that it fully supports its policy stance to use. The local currency which will also help to bring more firepower to industry and economic performance.”
Industry and business were not the only ones catered for, as this Tuesday government capped it off with a package of benefits and salary adjustments for civil servants which are meant to ensure that development is inclusive and benefits all.
“Industry especially exporters are grateful for what Treasury and the monetary authorities have done to induce incentives and fast track industry recovery and growth. However, I am more excited by the policy reforms to boost Government workers’ working conditions which inevitably offers them more purchasing power,” noted Zimbabwe National Chamber of Commerce President, Tinashe Manzungu.
That the bureau de change will only serve the elderly, the disadvantaged and other vulnerable groups for their foreign currency needs is a reminder of the Second Republic’s commitment to improving the lives of all without taking eyes of the ball in the march towards Vision 2030.