Monday, 16 November 2020

NEW ECONOMIC BLUEPRINT WILL SPUR GROWTH, SAYS ED

 


PRESIDENT Mnangagwa yesterday launched the National Development Strategy 1 (NDS1), which is anchored on economic growth and institutional reforms aimed at attaining an upper middle-income economy by 2030.

The policy document aptly tables policies, institutional reforms and 14 national priorities needed between 2021-2025 for the country to achieve an upper middle-income economy status in line with Vision 2030. Government has also developed a robust monitoring and evaluation system that will anchor the NDS1.

Some of the national priorities include economic growth and stability and it is envisaged that the economy will record average GDP growth rates of above five percent; stabilise the forex exchange rate and maintain a low inflation.

It will also result in increased gross national income (GNI) per capita income to levels of more than US$3 000 by 2025 and create more than 700 000 formal jobs thereby reducing extreme poverty.

NDS1, which is the successor to the Transitional Stabilisation Programme (TSP), which ran from October 2018 to this year, is the second step of the Government’s determination to attain Vision 2030 as enunciated by the President.

The blueprint, running under the theme “Towards a Prosperous and Empowered Upper Middle-Income Society by 2030,” will be underpinned by five annual national budgets.

Speaking during the launch of the NDS1 in Harare, President Mnangagwa said focus will be on strategic infrastructure in energy, water and sanitation, ICT and transport sectors which enable Zimbabwe to be more efficient and competitive.

“Riding on the momentum realised during the phase of the TSP, the construction, rehabilitation and modernisation of key infrastructure will continue with greater speed under the NDS1. Focus will be on strategic infrastructure in energy, water and sanitation, ICT and transport sectors which enable Zimbabwe to be more efficient and competitive,” he said.

President Mnangagwa said Government, through the NDS1, will prioritise citizens’ access to affordable and quality settlement in urban and rural areas. The NDS1 targets to deliver 220 000 housing units in both rural and urban areas by 2025.

The President said while the exploitation and management of natural resources is complex, the National Development Strategy framework will ensure sustainable growth of the mining sector towards the US$12 billion mining sector economy.

He said the modernisation of the manufacturing sector will be speeded up through deliberate, practical innovations and inventions to enable the country’s goods and products to meet the needs of citizens and also competitively penetrate global value chains and markets.

“The constant tracking of the objective of Vision 2030 will be essential as we go forward. The NDS1 will focus on accelerated growth of the economy between 2021 and 2025 leveraging on our agriculture, mining, manufacturing and tourism sectors,” he said.

“The Agriculture and Food Systems Transformation Strategy will continue to be boldly implemented towards a vibrant US$8,2 billion agriculture sector that will achieve national food and nutrition security.”

 

President Mnangagwa said agriculture, as a critical sector, will also help facilitate increased exports, innovative market driven production, productivity and investment.

“The Second Republic is about production, productivity and action hence the implementation and realisation of the NDS1 targets will be closely monitored and evaluated through appropriate frameworks. A robust monitoring and evaluation mechanism of NDS1 will be established to ultimately report to Cabinet, which will assume full responsibility of the implementation processes and take timely, remedial and responsive policy decisions as required,” said President Mnangagwa.

He said the success of Vision 2030 requires reinvigorated and re-engineered Government institutions which are aligned to the requirements of the national development agenda.

The President said human capital development and innovation will play a critical role in ensuring that the country achieves sustainable growth, industrialisation and modernisation during the strategic period.

“The development and deployment of appropriate skills, competencies and capabilities is set to be accelerated under the NDS1. The promotion of excellence, innovation, integrity, honour and hard work among our people should also be our focus into the future,” he said.

Consequently, said the President, the monetary sector has attained stability with an encouraging trajectory on month on month inflation. He said the financial sector is in good condition with the country having started to register positive national reserves.

“In view of the above, the NDS1 will therefore be rolled out under better economic conditions than TSP and has bold strategies and policies to catapult economic growth,” said President Mnangagwa.

He said the attainment of Vision 2030 is partly premised on the devolution and decentralisation agenda, which empowers provinces, districts and communities to implement development strategies which are informed by their respective resource endowments and competitive advantages.

“In line with the devolution and decentralisation agenda provinces will be developing their provincial plans aligned to the NDS1 based on their respective resource endowments and comparative advantages,” said the President.

The NDS1 contain strategies, programmes and projects aimed at eradicating poverty and promoting sustainable livelihoods of the poor, women and youth empowerment and support to people living with disabilities, in line with Vision 2030.

President Mnangagwa said the availability of social protection for vulnerable groups which include persons with disabilities, children and the elderly, will be enhanced under the NDS1 towards the achievement of development.

“My Government remains committed to the implementation of the NDS1. In keeping with my administration’s prudent use of public resources, good stewardship, purposeful and strategic deployment of our resources, the implementation process will insist on value for money and visible results which impact on the day to day well-being of our people and growth of the economy as a whole,” he said.

TSP’s main objective was to stabilise the economy and create a solid foundation for the Medium-Term Plans namely NDS1 and NDS2.

Notable progress has been made in the implementation of the TSP, including fiscal consolidation, exchange rate stability and a number of achievements in various pillars.

Vision 2030 reflects the collective aspirations and determinations of the people of Zimbabwe towards a prosperous and empowered upper middle-income society within the next 10 years.

Zimbabwe’s next step towards realisation of Vision 2030 is the five-year National Development Strategy of 2021-2025 (NDS1). The third step will be National Development Strategy 2 to be implemented from 2026 to 2030.

The emphasis of the NDS1 is on bold strategies that will change the status quo. Cabinet last week approved NDS1, which has been hailed by economic experts, multilateral agencies and civic society as critical to economic recovery.

Major objective under Food Security and Nutrition Security is to improve food self-sufficiency and to retain the regional breadbasket status by increasing food self-sufficiency from the current level of 45 percent to 100 percent, reduce food insecurity from the high of 59 percent recorded in 2020 to less than 10 percent by 2025 as well as increase maize production from 907 629 tonnes in 2020 to 3 million tonnes by 2025 including increasing beef production from 49 115 tonnes in 2020 to 110 000 tonnes by 2025.

The focus areas under Governance include public service delivery; justice delivery and national unity, peace and reconciliation and combating corruption in all its forms, among others.

Under the infrastructure and utilities, the policy document targets an increase in power supply from the current installed capacity of 2317MW to 3467 MW by the year 2025, construction of additional 280km of transmission and distribution network by 2025 as well as increasing access to potable water from 77,3 percent to at least 78,3 percent by 2025. Herald

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