The 2019 monetary policy budget was recently announced by Finance minister Professor Mthuli Ncube. There has been widespread outrage at the new policies introduced. Speculation is already high that prices of goods will skyrocket with immediate effect. Here are the top 10 policies that were availed.
1 Tourists will have to pay levies in foreign currency.
2 Exporters will pay electricity bills in foreign currency.
3 Tax free threshold is now Z$ 700 from the previous Z$ 350.
4 2% tax levy will now apply to transactions of Z$ 20 and above.
5 Duty on lithium solar batteries and electrical components for manufacturing removed.
6 Zimbabwean stats to defer calculation of inflation to February 2020.
7 Government workers budget raised to 5.9 billion dollars.
8 2019 budget increased to 18.62 billion dollars from 8.2 billion dollars.
9 Revenue collections realized 14.1 billion dollars.
10 Social safety net expanded.