Former Economic Planning Minister Tapiwa Mashakada, who is also the Movement for Democratic Change-Tsvangirai Shadow Minister for Finance, says he would aim to rum a $20 billion budget for Zimbabwe and would pursue production, inclusive growth and infrastructure development to revive Zimbabwe’s economy.
Zimbabwe’s budget has hovered around $4 billion over the past seven years.
“If I were the Minister of Finance I would set my eyes on the ball and pursue the following goals,” Mashakada said in a statement tonight.
“First and foremost I would pursue production, inclusive growth, and infrastructural development, boost exports through trade facilitation and promote domestic and foreign investment.
“Secondly I would dismantle the indigenization policy and improve the ease of doing business by repealing or amending all archaic laws that hinder investment (and they are many). I would engage business and labour and develop a codified social contract.
“I would do away with ghost workers, reduce foreign travels by government bureaucrats and stamp out corruption.
“I would ensure that diamond revenues go to the treasury. I would also direct all revenues collected by government departments including the police, registrar general, ZINARA funds, and all funds collected by a battery of constitutional funds dotted around ministries to be handed over to Treasury.
“I must emphasize that I would deal with corruption at all levels from border posts to the corridors of power. No one would be spared. I would aim to rum a $20 billion annual budget funded by domestic resources and external support.
“In regard to the debt crisis, I would immediateltly seek debt relief via the hipic route. It is a fact that Zimbabwe qualifies for debt relief under hipic. For starters, our debt to GDP ratio is over 90% and the hipic threshold is 80%.
“I would open parastatals to foreign and domestic investors. I have in mind such parastatals such as NRZ, Cold Storgae Commission, Zisco Steel, ZUPCO, GMB and others. In agriculture I would insist on productivity and efficient use of the land, including the enforcement of maximum farm sizes and access to agro-finance; more resources would be channeled towards mining, tourism and the manufacturing industry.”
Below is Mashakada’ statement in full;
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