ED on economy: All hands on deck

President Emmerson Mnangagwa has urged all Zimbabweans to take responsibility in the rebuilding of the country`s economy.

In a Transitional Stabilisation Programme released earlier this month, Mnangagwa encouraged academia, faith based and civil society organisations to embrace their grassroots structures and advocate towards complementing Government efforts.

He said he will provide the political will needed to ensure full implementation of the Programme, mindful that this will entail pain and need for sacrificing short term gains for longer term prosperity.

“Also critical will be our people in the Diaspora, whose participation in economic transformation initiatives go beyond contribution through remittances and philanthropic work-targeted to include skills transfer and involvement in arising domestic investment opportunities,” said Mnangagwa.

He added: “The realisation of the Transitional Stabilisation Programme short term quick-wins for the economy will be underpinned by adoption of, and strict adherence to, macroeconomic stabilisation policies that require painful trade-off, and sacrifice.”

The president said it is necessary to address fundamental economic challenges besetting the economy over the immediate term.

“The Transitional Stabilisation Programme outlines policies, strategies and projects that guide Zimbabwe’s social and economic development interventions up to December 2020, simultaneously targeting immediate quick-wins and laying a robust base for economic growth for the period 2021-2030,” he said.

“Green shoots are already emerging, in response to the goodwill arising from political, governance and economic reforms introduced by the New Dispensation that were being worked on prior to the 30 July 2018 Harmonised Elections.”

The president said in order to attain the desired growth rate trajectory, Government will undertake significant reforms, such as improving the ease of doing business, improving competitiveness, and opening the country to international investors and financiers.

“This will focus Government more on policy design, institutional efficiency and regulation, that way facilitating the private sector to play a major role in running businesses,” he said.

Since assuming power President Mnangagwa has been hard pressed to turn around the country`s economic fortunes as cash and basic commodity shortages as well as price hikes continue to affect the population.

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