'Govt will defend wages'

HARARE - President Emmerson Mnangagwa says he is fully aware of challenges monetary and fiscal measures have posed and government is working flat out to protect consumers, defend wage values and secure savings.

This comes after Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe governor John Mangudya presented monetary and fiscal measures which saw prices of basic commodities shooting up followed by a shortage of almost everything hitting the country.

In his weekly column published yesterday, Mnangagwa said people should appreciate the direction he is leading them to bearing in mind that there are sacrifices to be made.

“Lately, government has announced a raft of monetary and fiscal measures which the markets are digesting daily for business decisions.

“This process has triggered initial dis-equilibria in the economy, which have shown by way of instability in prices.

“I am fully conscious of this and remain committed to ensure that we stabilise things in the shortest possible time,” he said.

He said although no one is immune to sacrifices that are necessary to stabilise the economy they will not lose their money as government is already putting in place legally enforceable measures to protect all earnings and savings.

“Temporary pressures must not blind us to the major gains we have made and continue to make on the economic front.  Let us keep our focus on things that matter and on what needs to be urgently done,” he said.

Mnangagwa said the national budget will be balanced as a matter of urgency and the appetite for public spending restrained so that the cost of running the public sector remains within set targets.

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