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

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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