Friday, 11 August 2017

BITI'S STATE OF THE ECONOMY ADDRESS NEXT WEEK

Opposition Peoples’ Democratic Party (PDP)’s president Tendai Biti will next week deliver the second edition of the State of the Economy Address (SEA) in Harare at a venue to be announced in due course.

The PDP said in a statement, Biti — a former Finance minister — is expected to proffer a raft of solutions to the economic quagmire on varying issues including land invasions, illicit financial flows, dwindling revenues, poverty and unemployment.

While the fiscal impulse and a recovery in agriculture following favourable rainfall after last year’s drought will support moderate growth in 2017, the IMF has warned that financing constraints and declining confidence are likely to result in stagnant economic activity in the medium term.

Political polarisation is also undermining the prospects for fiscal consolidation and reform, imperilling financial sector and external stability.

“The president will also deal with the political crisis including the contradicting messages from the State which is at war with itself owing to the State-party conflation,” PDP said.

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