Private sector throws weight behind RBZ policies

By ZBC Reporter

The private sector has thrown its weight behind government policies which are being implemented by the Reserve of Zimbabwe, RBZ, which have also culminated in repressing macroeconomic imbalances in the economy and set the tone for sustained growth levels towards being a middle income economy by 2030

In 2018 Zimbabwe launched a modest economic recovery plan, The Transitional Stabilization Programme which was premised largely on exchange rate stability,the unfolding of such developments on the Reserve bank of Zimbabwe Auction system speaks volumes to the attainment of the blueprint’s major objectives.

It is against this background that the country’s private sector has renewed hope in terms of economic development thrust with Zimbabwe National Chamber of Commerce, CEO Mr Christopher Mugaga saying the current price discovery mechanism in place is sustainable.

“As Zimbabwe’s private sector we are particularly happy with the current environment that we are operating in since the beginning of the RBZ Auction system and we would like to see this environment maintained,” he says.

Economist, Mr Titus Mukove, said the adoption and implementation of prudent fiscal and complementary monetary policies is now bearing fruits as being testified by exchange rate stability.

“Confidence is slowly creeping in in all economic agents and this is a direct result of a sustained supply of Foreign Currency on the Auction system which will also help companies that are importing raw materials.”

Exchange Rate Stability obtaining will greatly foster the country’s economic reconstruction endeavour for sustained benefits.