Zimbabwe’s economy is expected to grow significantly in the next five years underpinned by the National Development Strategy One whose implementation begins this month.
Having successfully battled multi-layered economic challenges created out of successive years of rampant economic mismanagement and indiscipline, the introduction of the two-year Transitional Stabilisation Programme (TSP) has set a firm foundation to catapult the economy into the development phase.
Analysts say the economic stability currently obtaining sets in motion the successful implementation of the National Development Strategy One (NDS1) from this year to 2025.
Zimbabwe National Chamber of Commerce President, Dr Tinashe Manzungu says despite the economic headwinds such as the Covid-19 lockdown, the business community has embraced the policy document.
“The NDS’s eleven pillars are clear in terms of how all the key economic sectors of the economy will be financed and strategies to grow them. So as the 2021 starts, despite the lockdown, these sectors which include mining will obviously start to pursue the strategies enshrined in the policy document,” said Dr Manzungu.
Renowned economist, Mr Tony Hawkins predicts a prosperous 2021 based on the efficient implementation of NDS1.
Said Hopkins: “2021 will be different from 2020 and 2019 because agriculture will outperform the two previous years output and mining is expected also to defy the global lockdown to grow the economy.”
Another economist, Mr Persistence Gwanyanya expects diaspora remittances to be another building block for increased foreign currency availability during 2021.
“The central bank estimates are that at least one billion dollars will be earned form diaspora remittances and this will obviously augment the foreign currency for the auction system which has proved useful to the manufacturing industry,” he said.
Another analyst, Mr Collins Jonasi argues that unlike other previous economic blueprints, the NDS1, just like the TSP, will succeed based on the effective monitoring and evaluation.
“This policy document is unique because it is anchored on the results-based management system to track progress in all key sectors of the economy,” said Jonasi.
The National Development Strategy One is underpinned on accelerated economic growth with people’s incomes also expected to increase accordingly in line with improving standards of living.