Zimbabwe set for economic boom — Zanu PF

Obert Mpofu

THE country is expecting a rapid economic growth on the back of a bumper harvest this season, Zanu PF secretary for administration Obert Mpofu, has said.

The country is expecting grain production of between 2,5 and 2,8 million metric tonnes driven by improved rainfall and increased inputs supply through the government-initiated Pfumvudza agriculture concept.

Speaking during the Zanu PF policy meeting on Monday, Mpofu said despite the negative effects of the Covid-19 pandemic, there was hope for some green shoots.

“Our agriculture sector is poised to set Zimbabwe on a firmer development trajectory.

“The recent opening of our tobacco floors ascertains our drive to consolidate Zimbabwe’s economic aggregate success. We expect an increase in our foreign currency reserves following an increase in tobacco sales compared to 2020 sales.

“The resolutions adopted by the two successive politburo meetings and the inaugural central committee meeting (in 2021), signify the party’s human-cantered policies which resonate with putting people first and at the centre of development in order to ensure that no one will be left behind in the second republic as we embark on the socio-political and economic trajectory of transforming both the party and the nation,” Mpofu said.

He said unity was key in achieving economic development, backed by the local currency, which he said was gaining ground against the United States dollar.

“Peace, cooperation and development continue to be the cornerstone to which the Second Republic is built upon. Therefore, as a party, our out-reach programmes should be informed by the vision of (president Emmerson) Mnangagwa for Zimbabwe to become an upper-middle economy by 2030.

Mnangagwa recently hailed the country’s mining, information communication technologies (ICT), tourism and agriculture sectors, saying they were all moving in the right direction.

“My government has prioritised prudent fiscal and monetary policy and inflation control measures.

“To this end, bold reforms are also being undertaken to eliminate market distortions, improve the ease of doing business environment, ensure the protection of private property rights and overall consolidation of democracy and bolster free market enterprises.

“Government has since stabilised the exchange rate and slowed down price volatility…,” Mnangagwa said.

The country’s macroeconomic situation has been on a positive trajectory since the Reserve Bank of Zimbabwe introduced the auction system last June, in a development which has helped bring down parallel exchange rates.  – Daily News