ED REFORMS TO BE EVIDENT AFTER POLLS
Zimbabwe’s economic rebound can only be guaranteed if Emmerson Mnangagwa’s government successfully holds peaceful and credible elections in 2018, a research firm has posited.
Mnangagwa inherited a battered economy from long-time leader and mentor Robert Mugabe, who stepped down in dramatic fashion following a military intervention, christened Operation Restore Legacy.
Since his ascendancy to the helm of ruling party Zanu PF and government, Mnangagwa has preached economic reforms and promised to eradicate corruption. “Efforts to consolidate Zimbabwe`s fiscal position will face headwinds from sluggish revenue growth and the costs of running a general election, scheduled for 2018.
“That said, scope for fiscal consideration has improved following the appointment of a more reform-minded president in Emmerson Mnangagwa and we see the deficit narrowing more substantially in 2019,” BMI Research, noted in its latest report.
In his inaugural State of the Nation address Wednesday, President Mnangagwa said his government will pursue economic reforms and open up the economy for foreign direct investment.
“In line with our new economy thrust, we are determined to remove any policy inconsistencies of the past, to make Zimbabwe an attractive destination for capital,” declared Mnangagwa.
Mnangagwa has amended the controversial Indigenisation policy, restricting it only to the extractive sector, with a major focus on Diamond and Platinum. The President vowed to deal with the cancer of corruption which underlined President Mugabe`s presidency.
“Corruption remains the major source of some of the problems we face as a country and its retarding impact on national development cannot be overemphasised.
“The goal of my government is to build a new Zimbabwe based on the values of honesty, transparency, accountability and hard work,” Mnangagwa vowed.
The research firm also indicated that “greater scope for re-engagement with the international community, particularly with concessional lenders, increases the likelihood of a successful reintroduction of a local currency”. Mnangagwa said efforts will be made to attract the much needed foreign investment to jumpstart the country`s economy.
“Government will soon unveil a robust engagement and re engagement programme with the international community in our continued bid to re-join the community of nations.