Government will soon unveil systematic measures to comprehensively address cash shortages, while introduction of a local currency will remain a long-term objective, President Emmerson Mnangagwa has said.
At a Zanu-PF star rally at White City Stadium in Bulawayo yesterday, President Mnangagwa said Government wants a permanent solution to end the cash shortages.
“Initially the US dollar and the rand accounted for 40 percent each and the other 20 percent was the balance of other currencies.
“As time went on, the US dollar became dominant. The US dollar today takes about 90 percent of our transactional activity in the economy.
President Mnangagwa said authorities would work on creating the right conditions for a local currency.
“We have no control over the US dollar, it is time that we must adopt our way of restoring the dignity of our country by creating our own currency.”
The Head of State and Government said his vision for the country to become a middle-income economy by 2030 would see per capita income averaging $3 500.
“We need decent jobs, we need empowerment. We need to free ourselves from poverty. We must create wealth. Sunday Mail
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