HomeGeneral

The Market/Economy Has Self Re-Dollarised - ZCTU Expresses Concern Over Cost Of Living

4 years agoSun, 22 Dec 2019 09:08:37 GMT
Share on FacebookShare on TwitterShare on LinkedIn
The Market/Economy Has Self Re-Dollarised - ZCTU Expresses Concern Over Cost Of Living

ZTCU Authorities have expressed their concern over the increased use of the USD 6 months after the government declared the Zim Dollar the official currency and banned the multi-currency system Daily News reports.

ZCTU’s Japhet Moyo said:

.. its self-evident that the United States dollar has returned to be- come the preferred currency in the country. The market has re-dollarised regardless of the legal framework that prohibits the use of the US dollar. That is the reality on the ground.

This has created a big distortion in the market where wages and salaries are in local currency while goods and services are pegged at parallel exchange rates or actual US dollars.

ZCTU is the country’s biggest labour organisation.

Latest Tecno Pop 8 - now available in Pindula.

$94, Cash on Delivery in Harare & Bulawayo.

WhatsApp: 0783 450 793

 

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback