Zim awaits Medium Term Plan

expected to consolidate economic recovery.
The first half has not been that exciting in terms of significant economic progress, with more grumblings than cheers from both Government and industry.

The terrain has been rough somewhat going by the feedback from most businesses and sectors of the economy but Zimbabweans have already vowed they are made of sterner stuff and will thus ride through the rough patch to emerge victorious in the end.

If we survived the 2008 period then we can survive any condition even in Iceland but we strongly believe that such times will not be many if effort is applied to improving the economy and sustaining growth.
On the calendar today is the launch of the Medium Term Plan to cover the period 2011 to 2015. A flip through the document shows that a lot of energy has been applied towards its formulation and most of its targets are achievable if not too conservative.

MTP is targeting a 7 percent economic growth per annum, a figure that is quite descent but a bit on the conservative side.
Last year the economy grew by 8,1 percent and is expected to afford a 9,3 percent.
This would give an average 8,7 percent growth.

Other schools of thought have been of the opinion that a double-digit figure is possible this year or next which means the next few years could see the economy on a sustained growth path.
The MTP is, however, a critical document that will define and guide economic growth over the next year.
We are not too sure what happened to Step II whether it lasted its part or was abandoned mid-stream for one reason or the other.

However, its not the subject for discussion now but MTP is now expected to be the real drive the economy to attain its potential in terms of wealth creations, generation of jobs, macro-economic stability, infrastructure development, attracting meaningful domestic and foreign investment and ensuring critical services such as power generation and efficient transport systems are in place.

Economic ulcers such as Air Zimbabwe will need to be attended to with haste while the man on the streets will be expecting a tangible improvement in the standard of living.
The document has laid out targets and strategies towards improving the manufacturing sector, a factor that will minimise importation of such basic goods as cooking oil or tomatoes.

Once capitalised, industry has the wherewithal to adequately supply the local market and growing competition will force firms to produce good quality goods.
The customer has also become more discerning given exposure to some high quality products from neighbouring South Africa and other such countries.

A large number though has had to settle for cheap imports given the liquidity challenges that has popularised the dollar-for-two stuff. This has been good while it lasted but Zimbabweans have a right to good quality goods that will be sold on the market at competitive prices.
Of course we will always have that segment of the population that will need the cheap product. They can still have the products.

The situation will be regularised naturally once systems are put in place to promote local production.
We understand key priority areas under MTP will be job creation, investment promotion, infrastructure development, among others. More on the programme will be revealed at the launch today but we sincerely hope the US$9 billion plan will achieve results.

At this juncture we shall choose not to worry about whether the document will actually be implemented or will just add to the country’s library of economic plans that never saw the light of day.
We want to believe that we have learnt from our mistakes and that all stakeholders are bracing for their respective roles in ensuring the economy moves forward.

We need to reclaim our status in the region as one of the major economic powerhouses.
We have not done badly of late in this regard but we have immense potential to achieve much as a country and help impact the global economy at large.

Within the next few weeks we anticipate the announcements of the Mid-Term budget and monetary policies.
We would want to believe that this will feed from and into the MTP. There is need to emphasise congruency and co-ordination if the new plan is to work for this economy.

All stakeholders will need to be reading from the same page. Come year-end, we should all be taking stock of achievements made instead of pondering on what could have been had we done this or that.

So from the three key policy pronouncement lined up for this month, among other offshoots, July is promising a hive of activity.
Let the journey begin.
In God I trust.