THE Second Republic will continue with its sustained efforts to turnaround the economic fortunes of the country by implementing sound policies that bear fruits, a Cabinet Minister has said.
Speaking during a meeting at Manicaland State University of Applied Sciences in Mutare last weekend, Finance and Economic Development Minister, Professor Mthuli Ncube said the ongoing implementation of the National Development Strategy (NDS) 1 is pivotal in driving the Vision 2030 agenda.
Under the New Dispensation, the country has continued making steady progress in transforming into an upper-middle-income economy by the year 2030.
“Improving on its predecessor – the Transitional Stabilisation Programme (TSP) – the NDS1 is action-based and results-oriented. Its targets are monitored quarterly. By identifying key areas that can propel the growth of the economy, we have managed to promote new enterprise development and job creation.
“The localisation of value addition for industries and product utilisation has resulted in import substitution, thereby saving the country foreign currency. This has seen us scoring several and significant successes in various sectors of the economy,” said Prof Ncube.
The government remains committed to upgrading infrastructure, he said.
The Finance Minister hailed the rehabilitation and construction of roads, bridges, and dams, adding that they are key enablers of economic growth.
In addition, programmes like Command Agriculture and Pfumvudza have succeeded in improving the country’s food self-sufficiency.
Said Prof Ncube: “We are serious about achieving food and nutrition security. With the projected bumper harvest, a record in many years, the ‘from farm to fork’ dream is going to turn into a reality.
“With low and stable inflation curbing the exchange rate volatility, the prevailing macroeconomic stability has seen some local industries increasing productivity and profitability,” said Minister Ncube.
He said the Government will continue incentivising private players in order to encourage them to invest.
He also urged the country’s 10 provinces to identify and implement projects that speak to the devolution agenda.
“We are not short of money to finance bankable projects. The onus, therefore, is on the provinces to identify such projects. We are challenging them to step up,” said Prof Ncube.
He added that the huge strides made in promoting human capital development, social protection and international re-engagement, as well as progress in the fight against the Covid-19 pandemic, is ample proof that Zimbabwe is turning a corner in its pursuit of an upper middle-income economy by the year 2030.