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The Govt Has Not Stopped Making Payments - Guvamatanga

The Govt Has Not Stopped Making Payments - Guvamatanga

Secretary for Finance and Economic Development, George Guvamatanga, has scoffed at claims that measures implemented by the Government to stabilise exchange rate volatility and inflation are having a negative impact on the economy.

Speaking in an interview with State media on Thursday, Guvatamatanga also said it is not true that the exchange rate has stabilised and inflation has come down because the Government had stopped paying for goods and services supplied.

He said the government has not stopped making all payments, but only those invoices and contracts priced at the parallel market rate, or overpriced. Said Guvamatanga:

There is a big misrepresentation that is going on in the market that the Government stopped making payments, that is not correct, because if we had stopped the Government would not have been operational by now, if we were not paying anyone right now all our operations would have grounded to a halt.

What we have said is that we are not paying invoices and contracts priced at parallel market rate, or overpriced.

Obviously, there are those who are adamant and some who have adjusted, some are adjusting voluntarily without approaching them that we now want to change prices.

Guvamatanga insisted that the government had to stop the payments as the was “overheating”. He said:

The economy was overheating; everyone was overtrading and the majority of people who were reporting increased business activity were foreign currency trading; the demand was artificial. It was artificial demand because everyone wanted to get rid of Zim dollars.

So there is a readjustment that is required, even the Treasury has to readjust such that even our revenue, we must review them down.

I do agree demand has gone down, but people must know that some of the aggregate demand was artificial.

Gumamatanga said there is a need for the private sector to go back to basics and do away with overpricing goods. He said:

It’s not a Government (only) thing. P ‘n Pay needs to do it, OK (Zimbabwe) needs to do it, Spar (Zimbabwe) needs to do it, everyone needs to adjust.

Everyone needs to adjust and say the days of pricing things at 1,4, 1,5 (times the actual price are gone).

| Business Weekly

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15 Comments

Iyo joke diripa kadoma #jokes 4 months ago

*varume 4 vainda pa same printing press koprintisa pic remukadzi 1 for birthday present gift, apa ano printer wacho ndiye muridzi wemukadzi pamhanya munhu guyz*


kkk 4 months ago

u killed me wooo

rtgs 4 months ago

🤣🤣🤣🤣🤣


🤡 4 months ago

Everyday is now more like xmas day when price of goods go up because there will be bonus
uyezwe mitengo mimwe irikudzika nekuti banotenga vashoma mari haisi kubatika apa ma landloads dzimba vakakwidza zvekupenga, rent yemba yodhuura kupfuura ku renter shop


flames 4 months ago

who's fooling who?????


slime dispenser 4 months ago

CCC yadzikawo mutengo here Yanga yakuita overtraining Ivo basins stock tacho Havana majority kuparamende saka nyangwe vaka marketer Kuti Yero Yero 2023 vanongozonzi vadyiwa vodzokerazve Ku Constitutional Court vakabata chi petition Kuna Malabar wavaishaudha iye oti let's play it my bigger Ivo voti the fulcrum the pith wat wat but nen****ondo Jess harirarame zvekudaro nekuti ndere Yero Shiri inozongofa Wani Rest in Peace Chamisa and CCC 2023 takunyorerai obituary in advance Worzell Gummidge stove nemunhikwi veer Na Sonboy


slime dispenser 4 months ago

CCC yadzikawo mutengo here Yanga yakuita overtraining Ivo basins stock tacho Havana majority kuparamende saka nyangwe vaka marketer Kuti Yero Yero 2023 vanongozonzi vadyiwa vodzokerazve Ku Constitutional Court vakabata chi petition Kuna Malabar wavaishaudha iye oti let's play it my bigger Ivo voti the fulcrum the pith wat wat but nen****ondo Jess harirarame zvekudaro nekuti ndere Yero Shiri inozongofa Wani Rest in Peace Chamisa and CCC 2023 takunyorerai obituary in advance Worzell Gummidge stove nemunhikwi veer Na Sonboy


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slime dispenser 4 months ago

Jess ndere Yero Shiri dze yellow iminority ende dzinozongofa dzadyiwa nenhengure
Viva ZANU PF 2023 panyanga tiii tiii


ini 4 months ago

T&S no payment
Money for national program no payment
Salary adjustment no payment
Goods and consumables no payment
Interesting!!!!!!!


slime dispenser 4 months ago

jesa retro Uri ririkufa makamboona majesa jobho inini here get away mhani unoda CCC 2023

slime dispenser 4 months ago

Jesa ndere Yero inozongofa Wani Rest in Peace Chamisa 2023 electoral defeat yako Bata Nepal's mukomana


slime dispenser 4 months ago

jesa reyero rinongofa Wani ende harisimbe zvekudaro rinorumwa nenhengure ZANU PF will win 2023 elections


,,,, dott 4 months ago

Mukomana weyelo akafa kare, chitunha


Suffer Continue 4 months ago

Industry produces for end user whom they pay in Rtgs$ while products are sold in US$, end user is an employee of a manufacturing company paid in rtgs to buy in US$ and no wonder business has no sales


Mafirakureva 4 months ago

Jojo FirstGrave, the proof of the pudding is in the eating. Either we will shortly see contractors abandoning work sites for failure to be paid, or we will see accelerated depreciation of the RTGS, indicating that payments have resumed.

Six months dzeGold Coin is coming to an end. Hezvo tiri pano hedu



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