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Zimbabwe National Chamber of Commerce (ZNCC) Bulawayo chairperson Mr Bekezela Moyo has said it is important for the incoming Government to maintain a tight monetary policy and focus on promoting economic growth by encouraging investment both domestic and foreign.
Sharing his post-election period expectations with Business Chronicle, Mr Moyo said the Government should work towards maintaining economic stability, increase tax revenue and foreign exchange reserves.
“In order to maintain economic stability and benefit ordinary citizens and the business community, the Government should continue to maintain a tight monetary policy. This will help to keep inflation in check and protect the value of the local currency,” said Mr Moyo who is also the managing director of Allied Security and Curry Mine.
Mr Moyo said there is a need to increase the tax revenue base as it will help to increase the Government’s budget and provide more resources to invest in public services.
Another area of focus is on increasing foreign exchange reserves as it will strengthen the local currency.
Mr Moyo said by implementing the suggested policies, the Government can help to create a more stable and prosperous economy that benefits all citizens.
Meanwhile, other captains of industry said while noting the strides made during the first term of the Second Republic (2018-2023), going forward, Government needs to prioritise consolidating pro-business policies to buttress the economic growth momentum by ensuring continued exchange rate stability, curtailing consumptive expenditure, revamping the taxation system and accelerate efforts to resolve external debt overhang.
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