Wednesday , January 26 2022

& # 39; Painful Reform & # 39; for Zimbabwe & # 39;


President Emmerson Mnangagwa says painful reforms are needed to get Zimbabwe out of recession.

Former US Treasury Secretary Martin Thatcher told a Financial Times article: "Yes, drugs are demanding, but patients are required to live."

He said the administration found the key to fundamentally changing the economy by privatizing state institutions, expanding the tax base, and fighting corruption.

He also advocated levying levies on electronic transactions: "The government only cuts. They also need to collect.

In an effort to expand taxation standards, we recently applied a 2% tax on electronic transfers, which account for about 96% of all financial transactions. With budget cuts and privatization, collecting revenue effectively and efficiently can reduce your budget deficit. "

The 76-year-old president, who won the election in July after Robert Mugabe's resignation last year, said Zimbabwe faces a serious problem. Mrs. Thatcher said: "We are hard, sometimes painful, and afraid to make a decision. Do not. "

Since Zimbabwe took power, he emphasized the increase in the production of gold mines and the privatization of the agricultural sector.

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