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Mthuli Ncube Urged To Present Fiscal Measures To Complement Monetary Policy

11 months agoTue, 09 Apr 2024 11:56:59 GMT
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Mthuli Ncube Urged To Present Fiscal Measures To Complement Monetary Policy

Finance Minister Mthuli Ncube has been urged to promptly present fiscal measures that complement the monetary policy announced by Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu last week.

The 2024 Monetary Policy Statement outlines key strategies and measures aimed at achieving currency stability. These include the introduction of a structured currency called ZiG, backed by reserves and royalties.

Economist Gift Mugano suggests that Minister Ncube should not delay presenting his mid-term budget review in July or exclusively favour the use of USD over ZiG. He said:

The Minister of Finance must address the following:

1. Directing all local payments by the GOZ to be in ZiG;

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2. Directing all duties, taxes, levies and fees including government services such as passports, birth certificates, death certificates, etc to be in ZiG;

3. Directing fuel stations to accept both ZiG and USD – this must enforced in line with the spirit of the use of a multi-currency regime;

4. Recalibrating the financing model for the public infrastructure with a view to moving away from using cash to long-term finance e.g., diaspora bonds;

5. Setting aside a budget for the liquidation of the 25% export retention surrender requirement view a view to stop the RBZ from printing money;

6. Present a new budget statement in ZiG – this budget must include a supplementary budget with a view to accommodate the exchange movements as the current has been eroded by exchange rate upheavals. This submission is grounded on the fact that the fact that the exchange rate shot from ZWL$6,000/US$1 when the 2024 budget was presented to ZWL$33,882.72 as of 5 April 2024.

7. Downward review of taxes and elimination of some tax heads such as the sugar tax – the current tax regime is causing inflation in USD which means that inflation in ZiG will be massive.

The annual inflation rate in Zimbabwe has recently risen, reaching an over-one-year high of 55.3% in March 2024. This increase follows a rate of 47.6% in February.

The depreciation of the now-discarded Zimbabwe dollar played a role in this surge. Since the beginning of the year, the Zimbabwe dollar experienced a decline of more than 70% against the US dollar before being replaced by ZiG last week.

The introduction of ZiG marks Zimbabwe’s sixth attempt at creating a new currency since 2008.

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74 Comments

mtangadura · 11 months ago
Hatisvike mukoma ncube asi zvai kuti zvichakuzvimbirai chete tirikufa nekuda kwako kutoita pwere dzako dai makasiya Robert akanga akatakura ngozi kare uye achembera zvaive nani zvino newewo woda kuromba zera rako iri kuzviparira kudzidza rako zvizive hutsinye ihohu hazviperi
Khan · 11 months ago
@ Chi baby Che Zanu don't worry they will learn pavachaona their leaders abandon them just like they did during the GNU 🤣🤣🤣
Cdes · 11 months ago
MUGANO UNOZIVA ZVAUNOTAURA KWETE ANA NYORO AVA
PVC · 11 months ago
Don't worry I'm ok with what I'm. How can I Google places to go whilst I have got my place in Zim. I don't support Mugano full stop. But some of the things he say are tangible.
Khan · 11 months ago
I guess Pindula doesn't want me to go full nuclear on these crybabies then....My intention wasn't to scare these little babies but I guess I have to enjoy it as a bonus🤣🤣🤣...As a wise man once said, "Know your role and shut your mouth!".... Just keep your negative comments to yourself Mr Mugano and your Lilliputian supporters while you watch John the Baptist cook🔥🔥🔥🔥...He already has the illegal and putrid Black Market forex dealers on the run so he is doing a good job.....I love Zim hey am sure ana PVC and . are already googling places to migrate to apa hamuna kana financial muscle yacho 🤣🤣🤣🤣🤣🤣....Go sign a petition or something or better yet endai munoita good morning my president on X page yaLIEson Chamisa 🤣🤣🤣🤣...Whatever happened to #GodIsInIt or #ZimLivesMatter🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Knock some sense into these people
baba jukwa · 11 months ago
uri kuzvinyepera iwewe ma money changers akamirira kiti ibude vatambe nayo direct kwete yemu 4n iyi iripo and kana issues ekutenga neku tengesa mari kana asati agadzirizwa kuti ma banks aite that option sphatheleni hamufe maka mumisa basa rake and mirai muone
Khan · 11 months ago
@ Chi baby.... Don't worry they will see havo vachiri under the spell yevictimhood....
Khan · 11 months ago
@ baba Jukwa...stop crying please those issues are being rectified....Pretty soon money changers will be joining Mugano pahurovha apa🤣🤣🤣🤣.....
Khan · 11 months ago
Pindula stop deleting my comments...
Chibaba · 11 months ago
Becoz you are writing nonsense we need facts here not 2 pages rubbish
Khan · 11 months ago
@PVC I thought opposition crybabies were all about the free speech ini yet here you are trying to censor me inga hypocrisy is a funny thing🤣🤣🤣🤣.... Anyway kutoita fear yakadaro inga I am doing a good job .. Bulwark of People United and Free
PR · 11 months ago
Mr President please watch your surborteurs , the same people who pretend to love you and say yes to everything you say are trying to mislead you. Stick to your mantra that you are a listening president matter who says what as long as zvichiendesa nyika mberi. I didn't see anything wrong with professor Mugano's advices otherwise even our youngest deputy finance Minister Kuda Mnangagwa is learning from those economists.
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Kuda akadzidza kupfuura mugano. You can't compare actuarial science nezvinhu zvisina basa
PVC · 11 months ago
I can second you. Mugano handina kana basa naye but most of the times he talks sense then we rush to concluding that he is non affirmative. That's now true patriotism him, Mushayavanhu doesn't want to his this Zig it's for the majority, right it's for inferior we can do anything to refuse it there someone with good and understandable and constructive arguments you torment him. To hell with your governor.
tt · 11 months ago
yowee
Pot o njere · 11 months ago
Khan is 100%correct let's be watchful of regime change aspirants, Ana Mugano are netizens that feel they should sustain the retarding professor Hood that been on soakaway God knows where which hole they are barking from The problem is his commentary is always of criticism, And does that incessantly overtime, why would he do that, he's a professor, but he's just not a practical professeur that we know Every article that he's involved with, it's always a jabbatting mudslingung, This Zig currency is jus introduced has not felt its confy yet, there comes volumes of discourage from apro, one wonders how you ethics of teachings are like in SA, Zig is Gold backed, how I understand its works is more of a forectular trading 💹 along with we see those candle sticks that dependent on flactuation of Gold demand and its value price, so if you have a Zig currency and watchful of Gold trade you can access gains where it price value is increased on world market if it falls well you stick to your guns, so that's how I understand the works of the structured currency Normally works wonders on bank accounts Jojo is very correct on this people should transact using banks swipes and mobile money to see this light If you are arguing with it then what, Spew out your intellect, and if you are so intellectual what kept you to this end not aerating your inputs Welcome ZiG
· 11 months ago
Up yours mate 🖕🏽🖕🏼🖕
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Pot o njere unofunga kupfuura mafuza andaona pano akati wandei
PVC · 11 months ago
Iwe unofunga than him but pane zvekungonzi ndataura when someone is on point you don't criticize otherwise you can look for someone to start a different debate on different story wazviona
PVC · 11 months ago
This is an open platform for us to air our views and opinions not kuzoto tiri kukuonayi munasupporte mugano hee what tisatyityidzirane anamupurwa
Khan · 11 months ago
These are the economic saboteurs we hear about....I find it rich that a man who is constantly getting fired now wants to play governor...If he was such a genius why was he not considered for the top job....My advice to you Mr Mugano is to take your advice, turn it sideways and then stick it up where the sun don't shine.....As for the sycophants that support Mr Mugano remember We Are Watching You and we will deal with you accordingly.....
PVC · 11 months ago
unonhepawo iwe ano suppotwa I party ipi usatyityidzire vanhu **** you
Khan · 11 months ago
@PVC...even Dzamara was defiant when WE took his life 🤣🤣🤣🤣
Khan · 11 months ago
@ PVC we shall see hedu hanty we know who you are and where you live
Economist · 11 months ago
This Mugano Guy,,anotaura zvine musoro,,nhasi ka blaz kaya kanozviti chi baby chezanu kashaya zvekutaura
FAZ · 11 months ago
Prof Ncube finally get a nomination as the worst finance minister to ever exist in in the world
skun · 11 months ago
he doesn't care becoz he got the backing from his bosses..in other countries he would have been fired long ago or resigned by himself..
l · 11 months ago
saka ukutaurira ani
BONDË · 11 months ago
Ndinoda kunyatso zvambura Beçhe inenge rakagezwa ini
patz · 11 months ago
Dai zvisiri zvepolitics vanaMugano vaida kumbopihwa chimuti chehu RBZ governor or Min of Finance vamboisa zvavanotaura into action tione kuti zvofamba sei.
skun · 11 months ago
ma economist hobho mu zim..problem is that they don't listen to them rather listen to their so called advisers for ways to eat money...what mugano is simply saying is that if you can't do the above its another failure in other words..pabateyi ipapo
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Nonsense!!! We've better economists like Stephen Dlamini and Ian Ndlovu. Mugano is a public speaker. We don't need public speakers
Phillip Madzonga · 11 months ago
this sounding gud plan
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Pamberi ne Zanu Pf Pamberi na Ed Pamberi nerugare 🇿🇼
skun · 11 months ago
APA hauna kana cent 😂😂😂🙌
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Zanu irikutonga chero mat@ko amai vako
· 11 months ago
Kana kuri iko kutonga, tongai henyu. Asi zivai kuti hapana chamuri kugona. Even kutonga kwacho hamugone.
Ghetto Prophet · 11 months ago
Prof Mugano tinokutendai nema suggestion enyu,, asi nhai imbosiyai Fuel sector yakadaro bcz it seems very stable, we dont want experiment bcz it wld cz in whole economy. Moreover arguing gvt to make "all" payments in ZiG is suicidal bcz: The amount of ZiG against the Us$300 million is to little to accommodate civil service wage bill and the economy.Remember how the Us$200 million bonded currency worked it was only meant for change bt it wasnt enough. Also paying civil servants in ZiG will destroy the trust gain so far & may cz chaos & instability remember we are in a severe drought whch requires strong Currencies to mitigate the pressure on families
Mantis · 11 months ago
if ZiG is real currency inotadza nei kutenga fuel sei muri kuityira
skun · 11 months ago
if you cannot buy fuel using that zig means that the currency is just another bond paper that has changed signatories..the fact that he mentioned fuel is important..offcourse itis highly unlikely that zig will be able to buy fuel..boss tagz vakabvums izvozvo rinenge Nani ipapo..that way toziva restore some confidence in the people and traders.. otherwise hapana hapana
Castration is vital · 11 months ago
Kune vamwe varipano vanofunga nemusoro usiriwo you need to be castrated vanhu vari busy kuti nyika yoenda mberi sei umwe busy kufunga bonde
BONDË · 11 months ago
Tibvire apa there is nothing u can do to change Zimbabwe as long as ED achiita zvaanoda. Pamberi ne sĕx pliz
Bondaz · 11 months ago
Mugano knows thiz cards, this crazy 8 type of card game
l · 11 months ago
uya ubhagure ini iwe bonde
BONDË · 11 months ago
very good ndichakuuraya mböro
omg · 11 months ago
i need to fück someone right now be4 i commit repiiii question...mhosva yenyu ndeyei a...repiii question..madzidzei a...hanzi tiende kumbaaa
Ginimbi the Great · 11 months ago
go and see victor the and Mai welly's big ASSets
Humba · 11 months ago
Mugano is economist kkkkk
t omg · 11 months ago
mari yese ingo beka comma wobhara ziro hanz a 6 zero figure pachirungu
BONDË · 11 months ago
Ndiri kunzwa kungoda kubhagura bhebhi rine chido che sĕx ini
Bvepfepfe · 11 months ago
🤣🤣🤣🤣🤣🤣🤣🤣 @Wuto ndorombe guru guru rinopedza year after yeah arirovha achipembera Zanu Pf. Wuto enjoys kuva rombe rinoswera richiwona TV and Pindula comment section. 2024 achasvika December achingoita izvozvo just like 2023, panenge pasina difference @Wuto zirovha raED
ZiG.aro · 11 months ago
wakatora ZiG wotora USA zvese ne Bond I gedye gedye
patz · 11 months ago
John II aingofanira kutangirana naMinister wake munyowani coz Mthuli atindirana nayo inflation. Akagadzikwa ne bond mudishi chi professor chese chikashaya basa. Bond rakamudyisa ku Cowdry Park coz akataridza kuti haaziwe zvaanoita
Mugano i salute you · 11 months ago
Handina kuita economics asi zvese zvinotaurwa naProf Mugano ndinoverenga nekuti zvine musoro dai hurumende nevaya vanongoukura vasina chavanoziva vabata manzwi emurume uyu
Richmond · 11 months ago
wobhara zero webeka coma.....kkkkkk
savior kasukuwere · 11 months ago
kuye kudhakwa netumbwa twechirungu
Anonymous · 11 months ago
Mr Mugano, that's very good advice.
masigede · 11 months ago
l will comment about the ZIG ndariona ndoziva rate,coz ndakatodzima se Zesa yemu Zimbabwe
masigede · 11 months ago
yoyoyo ashumba vakuda futi
Yoyoyo · 11 months ago
😁😁Ndirikutoda chimhamha
Fiscal Minister · 11 months ago
I talked about the previous budget and said that scud had enormous input from his head not market forces, now you want to push me to do premature statements? last time I almost reversed everything and resorted to the printer at fidelity refineries...we are waiting for the opposition to raise critical entry points so that we present another responsive mid term review.. brick by brick 2030 tetirip000000!
doodles · 11 months ago
@Fiscal Minister.....yo have tickled me deep
Ndini · 11 months ago
ZiG tokorotsha chidoma chitukwane
Yoyoyo · 11 months ago
😁😁I love masigede ❤️ 😍
Ndini · 11 months ago
who is really in charge of our financial issues
· 11 months ago
Dambudziko & Son

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