Zim’s MTP gets Chinese award

senior Government official said at the weekend.
The economic plan, launched in July aims to revive the ailing economy over the next five years.
The MTP will require US$ 9 billion to implement with funds coming from the fiscus, investors, credit lines and public private partnerships (PPPs).

Economic Planning and Investment Promotion secretary Dr Desire Sibanda said the MTP won the award ahead of five other documents crafted by other countries.
“The MTP is one of the documents which China feels has to be given an award to Zimbabwe in honour of its work in development planning,” he said.
He said Minister Tapiwa Mashakada will receive the accolade at the China-Africa investment forum to be held in Shanghai later this month.

Zimbabwe has economic ties with China with over US$1 billion Chinese investments destined for the country having been approved in the last decade.
The US$9,3 billion blue print, which is expected to expire in 2015 projected average annual economic growth of 7,1 percent, annual inflation of less than 6 percent and annual employment creation of 6 percent.
Dr Sibanda said China has since sent a congratulatory message to the Zimbabwe Government for the economic blueprint.

“China has been on the lead in terms of planning so they acknowledged Zimbabwe has managed to come up with the MTP document,” he said.
The five-year plan has projected Zimbabwe‘s economy to grow 7,7 percent by 2015.

The MTP also guides government and investors on priority areas critical to turn around the economy over the next five years.
It also seeks to turn-around the fortunes of struggling state enterprises and increase the country’s power generation capacity to 2 200MW.

The main thrust of the MTP is to maintain macro-economic stability, restore and transform the capacity of the economy to produce goods and services.
The MTP builds on the foundations laid by the Short Term Emergency Recovery Program (STERP).

The economic blueprint was crafted in line with experiences of growing economies such as Brazil, Russia, India and China. – New Ziana.