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Mnangagwa on new tax: 'No need to panic'

The statement comes more than a week after the unpopular new tax was imposed by the government on money transfers, causing panic buying and public outcry.

FILE: Zimbabwe's President Emmerson Mnangagwa. Picture: Thomas Holder/EWN

HARARE - President Emmerson Mnangagwa has tried to reassure citizens, saying that there's no need to panic over a new tax.

The statement comes more than a week after the unpopular new tax was imposed by the government on money transfers, causing panic buying and public outcry.

In a statement, Mnangagwa says that the road to a better future is bumpy.

He has called his government's economic revival plans, which include an unpopular 2% tax on money transfers, bold and says they're necessary.

In the days after the launch of the new tax, there's been panic buying of goods in shops, fuel has run out at some service stations and the price of pharmaceuticals has spiralled.

In his statement, Mnangagwa says that government will guarantee the supply of essential commodities, including fuel.

(Edited by Shimoney Regter)