CZI pushes for expenditure cap

The Confederation of Zimbabwe Industries (CZI) has advised the government to step up austerity measures by enacting a new law, which stipulates a cap on government expenditure.

CZI agreed to come up with an implementation matrix of several congress resolutions within a week, amid reports that many companies were on the verge of collapse due to underfunding, competition from regional peers and Chinese imports and antiquated technology.

Among some of the measures the CZI is lobbying for is widening the multiple currency regime to include the Chinese yuan, as liquidity continues to bite the domestic market.

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