WATCH: Finance Minister Mthuli Ncube Speaks On Multi-currency, Exchange Rate, Workers’ Salaries

Finance and Economic Development Minister, Professor Mthuli Ncube has said the multi-currency system is here to stay while the interbank exchange rate will continue to be fine-tuned. He made the remarks at a press conference held in Harare at the backdrop of rising inflation and workers’ protests over poor salaries and working conditions. 

Some of the points mentioned:

1). Fuel – the minister said the government has reduced levies on fuel to prevent the price of fuel from breaching the US$2 per litre mark. Government has removed levy on diesel and dropped the petrol levy to 4.7c. “This action prevented the price of fuel from breaching the US$2/L level”

2). Health sector remuneration – Ncube said a number of allowances, including on-call, COVID-19, have been reviewed upwards to improve their welfare.

3). For teachers – on top of a 100% increase in salary from July, performance awards have been restored effective July, payment of school fees for 3 biological children -treasury ready to disburse amount for the first term.

4). Fuel, maize and bread prices – interventions were unveiled to stabilise prices.

5). We’re still assessing whether we need a supplimentary budget or not.

6). We won’t institute price controls.

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