(HERALD) Govt sets growth strategy

Govt sets growth strategy
Friday, 08 July 2011 02:00
Herald Reporter

VICE President Joice Mujuru, flanked by Prime Minister Morgan Tsvangirai (right) and Secretary for Economic Planning and Invest- ment Promotion Dr Desire Sibanda, displays the Medium Term Plan document during its launch in Harare yesterday.

GOVERNMENT yesterday launched the Medium Term Plan, an economic blueprint that envisages to trigger sustainable annual economic growth rate of seven percent from this year to 2015.

The plan also guides Government and investors on priority areas critical to turn around the economy over the next five years.

The MTP - launched by Vice President Joice Mujuru in Harare - outlines economic policies, projects and programmes to guide the country.

VP Mujuru described the MTP as a national economic development stra-tegy that responds to the mandate es-poused in Article 111 of the Global Political Agreement to support the re-storation of economic stability, growth and development.

"While STERP (Short Term Emergency Recovery Programme) was de-signed to restore macro-economic stability in the short-term, Government saw the need to come up with a nati-onal development strategy to guide policy planning, implementation, monitoring and evaluation to ensure sustainable economic growth and development, hence the formulation of the five-year Medium Term Plan, which we are launching today," she said.

STERP was introduced in 2009 to bring about macro-economic stability.
VP Mujuru said Zimbabweans cra-fted the MTP through an extensive consultative process.

She said MTP sets the platform for consolidating macro-economic stabi-lity achieved under STERP.

VP Mujuru said MTP sought to establish a framework for Zimbabwe to emerge as a vibrant, private sector-driven economy.

"The plan envisages a sustainable annual economic growth rate of seven percent in the period 2011-2015, which should result in significant job creation for poverty eradication," she said.

VP Mujuru said it was Governme-nt's wish to surpass the projected economic growth rate.

She noted that the projected economic growth rate fell short of the target set by the business sector early this year of a US$100 billion economy by 2030.

"However, Government, in laun-ching this plan, is not only interested in economic growth but also in the equitable distribution of wealth. This is why due emphasis is accorded to the indigenisation and economic empowerment programme," VP Mujuru said.

She added: "In launching this blueprint, we are effectively pronouncing our national priorities and national key result areas. It is therefore our expectation as Government that the private sector, co-operating partners and the donor community are guided accordingly by those national priorities in complementing our national efforts."

During the MTP period, VP Mujuru said, the Government would be guided by the vision of enhancing a democratic developmental State anchored on a growing, transforming and socially just economy.

"To achieve this vision, it is paramount that we as Zimbabweans, chart our own destiny, foster national unity and maintain harmonious working relationships and defend the gains of our hard won independence and sovereignty," she said.

VP Mujuru said the launch of the plan placed the country on a growth path inspired by experiences in such countries as China, Brazil and India, among others.

She said MTP was intended to promote capital accumulation, utilise reserves of unemployed labour, undertake policies that induce industrialisation based on value addition and promote domestic resource mobilisation.

"The success of this MTP hinges on singularity and unity of purpose among all Zimbabweans and across all sectors of the economy.

"We should be committed to ensuring that this plan is fully implemented and that there is close co-ordination of all Government departments, the private sector and other stakeholders to ensure effective implementation of the same, as it forms Zimbabwe's heritage," VP Mujuru said.

In his address earlier, PM Tsvangirai said the inclusive Government was dysfunctional.

"The question I want to pose to all of you is why should Zimbabweans and outsiders believe in this MTP? We have had so many plans. Why should we be inspired by this MTP?" he said, adding: "If you look at the inclusive Government, the first one and half years were progressive but for the last six months, it has been discord and dysfunctional. You ask yourself why don't we go back to a situation we united the country?"

PM Tsvangirai said there has to be policy consistency if the MTP was to be successful.

He expressed hope that all Government departments would work towards the implementation of the plan.

Deputy Prime Minister Arthur Mutambara said politics was impeding economic turnaround.

"The MTP would be problematic until we resolve our politics," he said.