Jonathan Moyo says Zimbabwe’s economy is poised for a major upturn in 2016


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Zimbabwe’s Higher Education Minister Jonathan Moyo, who is believed to be one of the brains behind the much-touted Zimbabwe African National Union-Patriotic Front’s Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset), says the country’s economy is poised for a major upturn next year.

He said this on his twitter handle in an exchange in which one of his followers said “we have been in this state for the best part of 15 years, a better tomorrow now looks like a mirage”.

Moyo responded: “Okungapheliyo kuyahlola!”- (Everything has an end).

Another follower wrote: “Upturn yes, next year, too soon, 2 or 3, yes.”

Moyo replied: “It will take off next year & take a cycle of a number of years to consolidate!”

Another follower tweeted: “How I wish that was true Prof but hmmm…..”

Moyo responded: “I fully understand your doubt but I honestly believe our economy has at long last reached its turning point”.

Zimbabwe’s economy has been sluggish since ZANU-PF won the elections in 2013 though it started declining in the last two years of the inclusive government.

Finance Minister Patrick Chinamasa last month announced a standstill $4 billion budget with about 90 percent going towards salaries making a lot of people skeptical about chances of the country’s economy turning around.

He also projected a 2.7 percent growth, up from this year’s expected 1.5 percent, but economists argue that Chinamasa is too optimistic.

A visit to the country this month by Chinese President Xi Jinping and an agreement with international financial institutions that Zimbabwe will settle its arrears by April next year, seems to have brought some confidence into the business sector.

The economy has, however, been grossly overshadowed by succession politics and failure by the government to act on corruption which appears to be its worst enemy.

The ZANU-PF conference currently being held in Victoria Falls could show the way forward if is not dominated by political squabbling with the party.

(146 VIEWS)

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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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