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Friday, March 31, 2023

13th Cheque to boost economic activities over the festive season

By Davison Vandira

THE Government has set the ball rolling in cheering up the festive mood by paying bonuses in hard currency, in a move expected to spur the demand for goods and services, most of which are produced locally.

An increase in disposable incomes through bonus payments has traditionally proven to be a key driver of high consumptive behaviour around the festive season.

Buy Zimbabwe Chairperson, Munyaradzi Hwengwere is convinced that the move is the right tonic for citizens to play a role in driving the industrialisation agenda through supporting local products following a boost in their disposable incomes.

“We appreciate the move that has been taken by the government with regards to bonuses and we hope the citizens in their spending will be alive to the country’s economic objectives hence we encourage them to support local manufacturers for sustainable development,” he said.

Zimbabwe National Chamber of Commerce CEO, Christopher Mugaga welcomed the 13th cheque as a boost to the economy.

“The payment of bonuses in the hard currency will create real economic value across all the sectors that will be recipients of these bonuses and we envisage where retailers and manufacturers will try and attract the USD by charging competitive and fair prices such that everyone will benefit from these resources,” he said.

The payment of bonuses in hard currency is set to boost the circulation of the greenback in the economy, which has a stabilising effect on the local currency.

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