Story by Owen Mandovha, Business Reporter
Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube says the current monetary policy subsists, and economic players should refer to it as they await the 2024 monetary policy statement which will be made in due course.
Professor Ncube said the announcement of the Monetary Policy Statement, which was due last month will be made at the appropriate time hence the market should not be anxious.
He said this during the signing of a grant agreement between the Japanese International Cooperation Agency (JICA) and the Government of Zimbabwe in Harare this Friday.
“There is no need for market anxiety regarding the announcement of the monetary policy. Market players should use the current policy introduced last year and the 2024 monetary policy statement will be made at the appropriate time,” he said.
Professor Ncube added that the 3.5% economic growth target set by Treasury will be achieved this year, despite slowed growth in the agricultural sector caused by the El Nino-induced drought.
“All other sectors of the economy are vibrant which include infrastructure, tourism and the likes and the 3.5 percent economic growth target set by us takes into consideration the decline in agricultural production caused by drought this year,” added Professor Ncube.
The second term of the current Reserve Bank of Zimbabwe Governor, Dr John Mangudya expires this month, with his namesake, former FBC Holdings chief executive officer, Dr John Mushayavanhu set to take the reins at the apex bank come 1 May 2024.
