What the MDC-T Minister of Finance would do to boost Zimbabwe’s economy

As you can see, I have the economy in the palm of my hand and clearly given the chance, I would do things differently.  If I were the Minister of Finance I would set my eyes on the ball and pursue the following goals.  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 labor 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. 

The overall thrust would be production, inclusive growth, job creation.  Once government is right sized, civil servants, army, police, intelligence and prison services would be paid handsomely.

Issues of redistribution are very important. Once growth is evident and revenues improve, I would put more funds in health for procuring drugs and equipment in public hospitals. More money in education and social security. Finally I would invest in infrastructure across the board and ensure that development is engendered. The economy would register green growth and adopt clean energy. Government would prioritize access to clean water in rural and urban areas. A new housing development model would be introduced for rural areas and incentives given to individual and corporate citizens who invest back into the community, especially in the provision of decent rural housing and rural infrastructure. 

I would seek to raise the level of economic activity in the informal sector and promote lawful cross border trade and vending at designated places. Keeping the environment clean would be on top of my priority list.  Civil society would play an important role in the economic governance of the country.

But all these things can only be achieved under a peaceful and democratic political environment.  At present, our politics is toxic and it affects economic recovery.  In conclusion, it is my humble opinion that Zimbabwe has great potential to balance the uneasy triangle of fiscal, monetary and external sector balance provided we adopt growth oriented policies under a peaceful, orderly and democratic political environment.

(239 VIEWS)