An economist says the Reserve Bank of Zimbabwe’s recent initiatives will ensure that future transactions and tax payments are primarily conducted using Zimbabwe Gold (ZiG).
In an interview RBZ advisor, Mr. Persistence Gwanyanya emphasized that the central bank’s measures are designed to strengthen the nation’s financial system and boost overall economic activity.
His remarks followed RBZ Governor Dr. John Mushayavanhu’s launch of the mid-year funding plan, where it was revealed that ZiG has been adopted by 91% of individuals and businesses. Dr. Mushayavanhu credited the stability of the Zimbabwean dollar to the successful integration of ZiG, increased foreign currency reserves, and ongoing monetary policy adjustments.
The governor projected a 2% GDP growth this year, buoyed by the prevailing financial stability. As part of the plan, the RBZ will expand the money supply to enhance market liquidity. Additionally, the central bank announced a tax exemption for individuals with bank balances under USD 100, aiming to ease the financial burden on low-income earners and encourage greater engagement with the formal banking sector.
