The ongoing “painful but necessary reforms” by the new administration are set to deliver sustainable jobs, economic stability, growth and development, President Emmerson Mnangagwa has said.

In a special address to the nation on Friday to mark his first year in office, the Head of State and Government said making the Zimbabwe dollar the sole tender for domestic transactions would increase the country’s export earnings and help promote a free-market economy.

He also exhorted political parties that still remain outside the recently launched Political Actors Dialogue (Polad) to join the platform.

“On the economic front, painful but necessary reforms have been made in the year that has gone by.
“The multi-currency regime, which ran from 2009, has now given way to reforms towards a national currency whose value is determined by the market,” said the President.

“The multi-currency regime had eroded our export drive thus hurting our recovery efforts. Through this key reform, and the operationalisation of open market in all spheres, we have geared our economy for a major transformation underpinned by greater efficiencies, fair value and secure property rights.

While the beginning may be painful, the medium to long run will deliver durable more jobs, economic stability, growth and development.”State media