Zimbabwe govt treasury commits to enhanced economic stabilisation




Professor Mthuli Ncube

MACRO-economic stability, currency stabilisation, adoption of an asset-based accounting system and the revival of the local industry remain at the centre of broader strategies to achieve vision 2030.

The Minister of Finance and Economic Development, Professor Mthuli Ncube says the need to maintain a stable macro-economic environment remains a key government priority.

In an interview on the side-lines of the treasury’s strategic retreat planning workshop which ended this Sunday in Vumba, Minister Ncube highlighted issues that topped deliberations at the strategic meeting.

“We were discussing five key areas in terms of deliverables under the budget and NDS 1 to maintain a stable macro-economic environment. We were discussing issues to do with fiscal discipline, macro-economic discipline and strategies to raise revenue to fund the budget. We also focused on the expenditure targets and strengthening and regulation of the financial sector.

“The move towards assets-based accounting system was also on the agenda. Going forward we want to maintain a stable environment through the right micro-economic interventions, monetary policy discipline, fiscal discipline and support the foreign currency auction,” he said.

The Minister of Finance also pledged government’s support towards strategic companies to reduce the import bill and increase export receipts.

“Government needs to support strategic industries by providing a market and demand for their products as well as providing incentives so that will reduce the import bill and create more jobs. The motor industry is one such sector. Those who will sabotage the economy will be brought to book. There is need for people to work together to build the economy,” he said.

Minister Ncube noted that a strong treasury is critical in achieving economic growth and development, adding that the key objective of the strategic planning workshop was to effectively implement the National Development Strategy 1 in pursuit of an upper middle-income economy by 2030.