By Sharon Tawuya
Harare, (New Ziana) — The key priority of the government going into 2027 is to maintain stable inflation and exchange rate, as well as improve acceptability of the Zimbabwe Gold (ZiG) currency, a senior official has said.
Ministry of Finance chief director for Economic Affairs, Joseph Mverecha said this while presenting oral evidence before the Parliamentary Portfolio Committee on Budget ahead of the presentation of the 2027 National Budget later this year.
He said prudent fiscal and complementary monetary measures with the Reserve Bank have delivered stability over the past 24 months.
“Over the past 24 months, the ministry, working closely with the central bank, implemented prudent fiscal and complementary policy measures, which have helped us achieve stabilization and macroeconomic stability, characterized by low and stable inflation, characterized by currency and exchange rate stability,” he said.
Mverecha said inflation fell from high levels to low levels, achieving single-digit by January this year, averaginhg around 4 percent over the past 9 months despite the oil price shock in February to April.
He said monthly ZiG inflation is now significantly well below 0.5 percent.
“We want to sustain this level of inflation stability and we want to sustain also the current stability, which will then allow our government to progress on ZiG usage expansion in the economy,” he said.
Mverecha acknowledged that ZiG usage is currently very low, but said the government and the Reserve Bank are working on a roadmap integral to the 2027 Nationa Budget for expanding ZiG usage.
New Ziana
