Finance Ministry Bets On ZiG With New Tax Plan

TREASURY plans to make most of taxes and fees payable strictly in the Zimbabwe Gold (ZiG) currency to steer demand and drive up its value.

The plans to shore up demand for ZiG are being made as the Finance, Economic Development and Investment Promotion ministry prepares the 2025 National Budget to be presented next month.

On September 27 this year, the ZiG depreciated to US$1:ZWG24,39 from a prior day comparative of US$1:ZWG13,99. The dollar was yesterday trading at ZiG26,6718 at the interbank market.

Since ZiG’s introduction in April as a stable currency, adequately backed and “a step in the right direction”, the currency remains volatile.