Finance and Economic development Minister Professor Mthuli Ncube says government is ready to raise civil servants’ salaries for the second time in three months which have been eroded by the soaring inflation.
Year-on-year inflation has eroded the value of their wages and savings, recalling the horrors of the hyperinflation era in 2008.
Last month, government through the statutory instrument 142 of 2019 banned the use of foreign currency and re-introduced the local currency formally known as the Zim dollar as the sole legal tender.
However, these currency reforms have done little to instil confidence that people’s living standards will improve.
“I have a wage increase figure already and I am just waiting to hear from the unions. We will be meeting them tomorrow (Tuesday) to hear their figures,” Professor Ncube said this ata breakfast meeting with local business people in the capital, Harare this morning.
The introduction of a domestic currency has given fiscal and monetary authorities strong hope and optimism that the country is on the right pathway in its economic transformation agenda.