Govt reaffirms commitment to arrest inflation

Online Desk |  1 year ago | local

Government has reiterated that it is monitoring the financing of infrastructure projects, being implemented countrywide, to ensure that their financing models, do not trigger inflationary shocks. 

Responding to questions during a post Cabinet media briefing in Harare this Tuesday amid observations by experts that the capital projects are turning to illegal money markets for foreign currency, Finance and Economic Development Minister, Professor Mthuli Ncube said government has moved in to address the situation.

Government is currently implementing various measures to bring currency stability, such as ensuring successful bids on the Foreign Currency Auction System are allotted within two weeks, to discourage factors requiring huge sums of the US dollar, from seeking the green back on alternative sources.