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Zimbabwe eyes massive GDP growth

by Staff Reporter
30 Oct 2020 at 17:17hrs | Views
THE Office of the President and Cabinet is developing a framework to implement the National Development Strategy to consolidate the gains of the transitional stabilisation programme and offer a road map towards the attainment of an upper-middle-income economy by 2030.

Chief Secretary to the President and Cabinet, Dr Misheck Sibanda says the strategic plan seeks to catapult the economy from the baseline GDP of minus 4.5% to an average GDP growth rate of 5.7% per annum to achieve vision 2030.

Dr Sibanda, who delivered his Keynote address at a strategic meeting workshop for the OPC in Mutare this Friday, said they are laying the groundwork for the National Development Strategy 1 which runs from 2021-2025.

"The Office of the President and Cabinet as the apex centre in Government needs to craft strategic plans that are anchored on concrete and bold strategies to realise big and impactful results to catapult the economy from the baseline of GDP of minus 4.5% and leapfrog the economy to a projected average figure of GDP growth rate of 5.7% per annum over the next five years," he said.

"Commencing in the fiscal year 2021, all heads of ministries will sign performance contracts to inculcate a culture of commitment and results in orientation at the top echelons of government. These instruments will be spread to cover State Enterprises and Parastatals as well as local authorities."

For government, the strategic plan will be informed by the need to re-boot all sectors of the economy through enhanced productivity, value addition, industrialisation, import substitution as well as improved competitiveness across all sectors.

"Bold strategies should again be developed to enhance productivity across the various value chains, hence increasing the pace of re-industrialisation, export competitiveness and import substitution. Increased productivity in Agriculture, Mining, Manufacturing, and other service industries remains the priority of NDS1, underpinned by a business-friendly environment that promotes local and foreign investment."

The National Development which will be implemented after the TSP comes to an end this year also seeks to promote inclusive growth through the devolution programme.

Source - ZBC

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