President Weighs In On Ncube’s Fiscal Measures

President Weighs In On Ncube's Fiscal Measures
Image Credit: VOA News

President Emmerson Dambudzo Mnangagwa has responded to the Finance Minister Professor Mthuli Ncube’s measures to reform and revive Zimbabwe’s challenged economy.

Zimbabwe’s leader said he understands the difficulties many citizens face and the government will do all in its power to minimise the difficulties.

“Last week, Minister of Finance Mthuli Ncube, drawing on his vast experience as chief economist and vice president at the African Development Bank (AfDB), announced a series of measures to reform and revive our economy, and put us on the path to steady economic growth,” the President said. “Cognisant of the scale and urgency of the challenges facing us, our plan is bold and far-reaching, and will have the desired effect.”

“We are already taking the lead by cutting back on unnecessary spending. The only way to a stronger economy is to restructure, rebuild and reform.”

The Zimbabwean President said there is no need to panic, and the government is guaranteeing the availability of all essential commodities including fuel.

Queues for fuel are looming in Zimbabwe with public transport in urban areas increasing to 75 cents and others $1 from 50 cents.

“We are on a shared journey to a better and more secure future,” the President said. “The road is long, winding and at times bumpy, but there is no other way.”

“This road is the road to a middle-income economy, and if we travel it together, with patience and purpose, we will realise our vision.”

We must all be realistic. Whatever some may claim, there are no silver bullets or quick fixes. There is no need to panic, and Government is guaranteeing the availability of all essential commodities, including fuel.

Besides measures for reforms, Ncube also launched the Transitional Stabilisation Programme (TSP) for 2019 and 2020, which reduces civil service wage bill, review parliamentarians travelling allowances and fuel allocation.

“The only way to a stronger economy is to restructure, rebuild and reform,” Zimbabwe’s President said.

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