Browsing: Mthuli Ncube

According to an article by the Herald published on June 27, 2022, popular bullion coins include the American eagle, the Canadian Maple Leaf, the South African Krugerrand, the Isle of Man Gold Cat, the Australian Kangaroo, and the China Mint Panda Bear. They added that gold is a haven against inflation and a gold coin is made mostly of gold while most gold bullion coins are pure gold.

Meanwhile, in an article dated May 27, 2022, Bloomberg described the RBZ as the world’s most aggressive central bank. According to an article by Pindula News published on June 27, 2022, Zimbabwe’s former Finance and Economic Development Minister, Tendai Biti, said the Reserve Bank of Zimbabwe (RBZ) has outlived its usefulness and, therefore, should be abolished.

He made the remarks in response to a cocktail of measures introduced by the government to stabilize the economy. The main duty of the RBZ is to present monetary policies with primary objectives that address the management of inflation or unemployment, and the maintenance of currency exchange rates.

Large-scale miners supplied nine tonnes of gold over the time, according to FPR, the country’s lone buyer of gold, lagging output from small-scale producers, which delivered 13 tonnes.
Bullion output fell slightly to 1,38 tonnes in April, then jumped to 1,66 tonnes in May before soaring to 2,92 tonnes in June.
According to the study, July’s output was 2,82 tonnes before climbing to 3,17 tonnes and 3 tonnes in September and October.

Treasury is expected to continue its trajectory f fiscal consolidation and discipline together with increasing incentives to grow investments in value chain sectors and stability in power supply.
On the taxation front the budget was expected to provide relief to the poor who make up at least 49.9 per cent of the population of the country. This is particularly significant because it has been said on several occasions that Zimbabwean people are among the most taxed in southern Africa.
This is partly the legacy of the minister of finance’s austerity for prosperity policy which resulted in a largely resented 2 per cent transfer tax on all transactions. There have been calls for this tax to be repealed and the tax-free threshold to be increased.