Thursday 04, October 2018 by Bloomberg

Zimbabwe Government to cut jobs as part of stabilisation programme

 

Zimbabwe’s cabinet agreed to cut government jobs as part of a program to stabilise the economy, the Information Ministry said.

The measures will help Finance Minister Mthuli Ncube reduce a state wage bill that the International Monetary Fund estimates consumes more than 90 per cent of government revenue. Ncube is implementing a series of reforms to steady an economy impaired by almost two decades of mismanagement under former President Robert Mugabe.

The cabinet approved Ncube’s so-called Transitional Stabilisation Programme on Tuesday, Information Minister Monica Mutsvangwa said in a statement emailed from the capital, Harare.

Key features include “rationalisation of the civil service so as to reduce the unsustainable public-sector wage bill,” she said. The program will also seek to eradicate corruption, strengthen Zimbabwe’s balance of payments, simplify tax administration and strengthen fiscal responsibility, she said.

Features & Analyses

Economics Adapting to a new era

  Abdullah Al-Fozan, Chairman of KPMG MESA and KPMG Saudi Arabia, provides an exclusive commentary on the Kingdom’s business… read more