Govt to deepen monetary, fiscal reforms:ED

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PHILLIMON MHLANGA IN VICTORIA FALLS
President Emmerson Mnangagwa today indicated that government will deepen  monetary and fiscal reforms with “impelling force”.
He made the remarks while officially opening the on-going Zimbabwe National Chamber of Commerce annual congress in the resort town of Victoria Falls.
“…We shall continue to deepen the on-going reform initiatives and not shy away from  doing that which is good for our country and the generality of our people,” Mnangagwa said.
“To this end, the on-going monetary reforms, fiscal consolidation,macroeconomic stabilisation, stimulation of growth, will proceed with increased impetus,” he added.
Mnangagwa said the reforms need government and business to be “solid and candid and principled”. He urged business to compliment government in the quest to achieve the the reform agenda.
Government this week, gazetted Statutory Instrument 142 of 2019, which outlawed the continued use of foreign currency in this country as legal tender, a move which shocked many, leaving the Zimbabwe dollar as the sole legal tender.
Mnangagwa also challenged business to be strategic in order to expand economic horizons,especially increasing productivity for exports.
“I challenge (business) to be more deliberate and strategic on your approach to expanding economic horizons and developing solutions for economic turnaround. We should no longer pay lip service to increasing productivity and exports in all sectors,” Mnangagwa said.
He affirmed government’s commitment to support business to enhance competitiveness.
“My administration will continue to support business by putting in place comprehensive measures to revamp and enhance competitiveness'” Mnangagwa said.
Last week, government approved the Zimbabwe National Industrial Development Policy and the Local Content Strategy.