“Beyond December, We Focus More On Jobs, Growth, Productivity & Development” – Finance Minister

Finance Minister, Professor Mthuli Ncube, has said that the government projects to have finished making major decisions by December this year so as to start focusing on other issues such as employment creation.

Speaking during an exclusive interview with Bloomberg News last week, Ncube said:

What people are feeling is really wage compression and not hyperinflation. Prices adjusted instantly to the exchange rate, but wages have been too slow to catch up with the adjustment. The issue is about wage adjustment and I am a big champion of wage adjustment.

The big macro-economic decisions should be complete by year-end. In December, everything stops in terms of the big decisions. Beyond that, we focus more on jobs, growth, productivity and development.

Ncube’s remarks come when the nation is in pain due to austerity measures which the government has put in place.

They also come when the ruling ZANU PF has been criticised for failing to fulfil electoral promises in its manifesto.

In his inaugural speech, President Mnangagwa promised the creation of “jobs, jobs, jobs” and “resuscitation of industry”, a pledge that was received by ululations and whistles from thousands of attendees.

The past twenty-four months have however recorded a sharp contrast to Mnangagwa’s promises as some major companies have been retrenching or closing.

The country is submerged in a myriad of challenges including power deficit that make it unconducive for business. Therefore laying off of workers or closure of business has been one of the preferred options.

More: ZBC News

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