adminto consolidate macroeconomic gains.
Three months into the launch of the MTP, the business community says it is concerned with the overall implementation system on the back of resurfacing macroeconomic pressures in the form of high utility bills, rising inflation and limited financial inflows.
Business analyst Mr Christopher Mugaga has described the MTP as too generalised for recovery of an economy such as Zimbabwe.
“Indeed, we are not seeing anything on the issues addressed by the MTP. The delay in the initiation of the MTP policies is likely to hinder productivity as businesses are losing confidence,” he said. He added that the delays in the implementation of MTP policies had a negative impact on the business sector and a lot of investors were now shunning the country. Mr Mugaga, however, urged the
Government to implement the policy as it is in line with the set timeframes.
A local businessman, who spoke on condition of anonymity, said the delay in the implementation of the Medium Term Plan policies was exposing the failure by the Ministry of Economic Planning and Investment Promotion in facilitating macro – economic growth.
“We hope the relevant minister will do something on the matter,” he said.
The five-year Medium Term Plan is aimed at restoring business confidence, mobilising US$9 billion, boosting investment, stimulating savings, and stabilising macroeconomic variables among other factors.
It deals with various policies and programmes that address the macroeconomic fundamentals critical for the growth of the economy. Some of the key macro economic targets of the MTP include achieving an average growth rate of 7,1 percent during the plan, an average employment creation of 6 percent, double digit savings and investment among others.
Online Reporter