2nd Republic moves to arrest price hikes
. . . structured currency on the cards
THE Government is implementing a raft of policy measures to arrest price increases, stabilise the foreign exchange rate and ultimately maintain the value of the Zimbabwe dollar, with a structured currency set to be introduced soon, President Mnangagwa has said.
Addressing the first Cabinet sitting of the year at State House in Harare yesterday, President Mnangagwa said his administration would continue crafting sensible fiscal and monetary policies.
These, he said, would ensure the country has a conducive business environment which is critical for Zimbabwe’s economic growth and stability.
“Prudent fiscal and monetary policies and the promotion of a conducive business environment remain critically important for the stability and growth of our economy. Accordingly, the fiscal and monetary authorities are implementing a raft of policy measures to arrest price increases, stabilise the foreign exchange rate, maintain the value of our currency and ultimately encourage savings,” President Mnangagwa said.
He said the Second Republic was cognisant of its responsibility to deliver for Zimbabweans and ensure their aspirations were met as promised.
To that end, President Mnangagwa charged Cabinet ministers to spearhead the implementation of transformative programmes that promote industrialisation, modernisation and rural development across the country.
“As we regroup, I exhort us to remain mindful of the fact that we have a responsibility to deliver on the promises we made to the people of our motherland, Zimbabwe, which saw them overwhelmingly voting for our party, Zanu PF, in the 2023 harmonised general elections and subsequent by-elections.”
The President said all ministerial programmes must remain aligned to the country’s economic development and never deviate, as enunciated in the National Development Strategy 1 (NDS1).
“In line with our commitment to leave no one and no place behind, I am directing you all to focus on implementing transformative programmes that promote industrialisation, modernisation as well as rural development throughout the country.
“To that end, the policy imperatives I enunciated at our September 14, 2023, Government Retreat should be part of the Strategic Plans of your respective ministries,” he said.
“Meanwhile, all ministerial programmes must remain aligned with the economic development priorities as outlined in the National Development Strategy.”
In the wake of the recurrent cholera outbreak, President Mnangagwa said the Second Republic will continue improving the provision of potable water, sanitation facilities and waste management services. He subsequently directed the relevant ministers to keep him updated at all times.
“Decisive action is essential to scale up efficiencies within all public institutions, in particular our public health systems, more so in the context of the cholera outbreak and other climate change-induced threats. The provision of clean water, sanitation facilities and waste management services are a priority. I expect real-time updates in that regard,” President Mnangagwa said.
Infrastructure development was also a priority and would continue to be the signature of the Second Republic.
Some of the infrastructure projects underway include the modernisation of the Forbes Border Post, road and dam infrastructure projects as well as the recapitalisation of the National Railways of Zimbabwe, among others.
“Infrastructure development continues to be a priority for the Second Republic. Greater focus will be made on key projects, including the Forbes Border Post modernisation, the Harare-Chirundu highway, the Harare-Kanyemba Road, the Tugwi-Mukosi control tunnel and recapitalisation of the National Railways of Zimbabwe.”
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