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Can Mnangagwa propel Zimbabwe into an upper middle income country by 2030?

Zimbabwe says it is on track to transform Zimbabwe from a lower middle income to an upper middle income country by 2030. A British economic research group thinks otherwise.

To be an upper middle income country, Zimbabwe needs to have a per capita income of between US$4 046 and US$12 535. According to the World Bank it had a per capita income of US$1 464 last year which means it has to treble that in the next 10 years.

Information secretary Nick Mangwana, in a video in which he summed up President Emmerson Mnangagwa’s achievements in two minutes, said Mnangagwa’s administration had:

  • Turned from a budget deficit to a budget surplus of $1.2 billion.
  • Reintroduced the Zimbabwe dollar which has boosted exports and created jobs and has resulted in price stability and declining inflation.
  • Produced about 190 000 tonnes of wheat in 2020 compared to 94 700 tonnes last year
  • Reduced the government wage bill from 92 percent of government expenditure to 50 percent
  • Resolved the issue of compensation of former white farmers
  • Introduced climate friendly and high yield pfumvudza farming progrmme which should result in production of 1.4 million tonnes of maize
  • Pushed Zimbabwe to number 3 on Africa’s budget transparency list
  • Introduced the one-stop Zimbabwe Investment Development Agency
  • Reduced the period for starting a business from 32 days to 11 days
  • Reduced the number of days to get a construction permit from 208 to 150 days
  • Reduced property registration period from 36 to 14 days
  • Licensed 6 new TV broadcasters
  • Started addressing Gukurahundi issue
  • Introduced innovation hubs at universities
  • Expanded and modernized Beitbridge Border Post
  • Started dualising the Harare-Beitbridge Road
  • Started building the new Parliament building
  • Started construction of Gwayi-Shangani dam and commissioned Marovanyati dam

Continued next page

(146 VIEWS)

This post was last modified on December 28, 2020 12:43 pm

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Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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  • I really think the man given the tattered state of the economy he inherited is doing his honest best. The economy was riddled with gross corruption, mismanagement and above all sanctioned. If he continues to open the mines, fix the arteries of the economy and above all, fix his relations with the Washington and London thereby removal of sanctions, Zimbabwe will be one of the most prosperous economies in the Africa ever!

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Charles Rukuni
December 28, 2020 12:42 pm

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