Demand for US$ salaries grows louder

WORKERS’ unions yesterday implored government and the private sector to pay United States dollar salaries with immediate effect as the economy has moved closer to full dollarisation.

Latest Zimbabwe National Statistics Agency statistics indicate that the economy is on a dollarisation trajectory with 78% of transactions for food purchases now being done in foreign currency.

Last week, the Reserve Bank of Zimbabwe said about “70% of domestic expenditure is in US dollars and foreign currency deposits and loans constitute about 65% of total banking sector deposits”.

This story is for NewsDay subscribers.