Finance minister Mthuli Ncube says the Zimbabwean dollar cannot be phased out since it is essential in pushing economic growth forward and driving the country’s development.
Speaking after the burial of the national hero Stanley Nleya on Wednesday, Ncube said Zimbabwe has always used domestic currency together with the USD and other multiple currencies in the multi currency regime.
“We need domestic currency because we cannot run domestic monetary policy with a hard foreign currency”, Ncube.
The minister added that the us$75 given to civil servants is nothing other than an inflation protector.
Refering to the us$75 and 50% salary increase in the Zimbabwean dollar, Mthuli said both are cushioning allowances from Emmerson Mnangagwa to civil servants.
“We understand your plight and negotiations on the normal salary are on going”, said the minister