Zimbabwean civil servants have rejected an offer for a 100% pay increase from the government demanding a minimum of US $840 salary.
In an emailed statement on Friday by the Zimbabwe Confederation of Public Sector Trade Unions, it mentioned that Workers “flatly rejected” the state’s offer to double their salary.
Zimbabwe’s inflation rate surged to 132% last month and civil servants are currently receiving salaries of 18,000 Zimbabwean dollars ($53). Alternatively, they want a paycheck that includes a mix of the greenback and the local currency.
Meanwhile, Zimbabwe’s annual inflation rate jumped to the highest level in a year in May as food prices almost tripled. This was partly due to a sharp depreciation in the Zimbabwe dollar that spurred authorities to use a variety of strategies to stem its decline.
Addressing a Political Actors Dialogue (POLAD) Currency Indaba on Thursday, the Treasury chief said, among other interventions, the Government had made a commitment to ensure zero growth in the broad money supply.
“So, growth in money supply is well contained in terms of M0 growth, but we noticed that perhaps when it comes to broad money, that growth has remained positive and that has partly contributed to part of the currency volatility that we have seen; so we are dealing with that.
“On the monetary front, we have a strategy of containing growth in money supply, both reserve money and broad money,” said Minister Ncube.