ZNCC to host 2023 preNational Budget consultation
THE Zimbabwe National Chamber of Commerce ( ZNCC) Matabeleland Chapter will on Thursday host its annual 2023 preNational Budget consultative workshop in Bulawayo.
The workshop which will be held in partnership with Friedrich Naumann Foundation (FNF) will run under the ZNCC annual theme which is, “Bolstering Resilience and Innovativeness for Sustainable Growth.”
ZNCC Matabeleland Chapter Vice-President Mr Louis Herbst said the consultative workshop will provide a platform for stakeholders to engage Government.
“The Zimbabwean economy is projected to grow by 4,6 percent in 2022, being revised from the previous target of 5,5 percent and yet we do face a myriad of challenges including high inflation, high formal unemployment, and debt distress.
“Therefore, the consultative workshop will bring the Government together with the stakeholders so as to come up with policies to curb these challenges,” said Mr Herbst.
He said as a chamber they recognised the resilient nature of the Zimbabwean business community despite the presence of some challenges, noting that there was a need for the resilience to be bolstered and combined with innovation.
Mr Herbst said innovativeness will weather the headwinds faced by business and ensure sustainable growth in the volatile and uncertain environment.
“In the same vein, we aim to assist the Government in coming up with policies that aid in bolstering resilience and innovativeness for sustainable growth. Attendees at the consultative workshop will also be presented with the opportunity proffer their opinions about the prevailing economic climate.”
Mr Herbst said views gathered at the workshop would then be used in the formulation of the ZNCC State of Industry and Commerce Survey. He said the main objective of the survey was to inform policy on the state of industry and commerce in the country.
“Its specific objectives include the review of the macroeconomic situation and developments in the country for 2022 and review of the 2022 developments on the ease of doing business in Zimbabwe and comparisons with other regional countries. Lastly, it estimates the number of companies commencing and shutting down operations annually.”
Speakers lined up for the workshop includes Mr Herbst, Ministry of Finance and Economic Development, Permanent Secretary Mr George Guvamatanga and a Director in the Ministry Mr Fidelis Ngorora.
Among them will also be ZNCC Matabeleland Chapter chairman Mr Mackenzie Dongo, Independent Consultant Professor Albert Makochekanwa and the National University of Science and Technology (Nust) Dean of the Faculty of Commerce Dr Peter Nkala.
Meanwhile, recently presenting the 2022 Midterm Budget and Economic
Review, Finance and Economic
Development Minister Professor
Mthuli Ncube also tabled the 2023 Budget Strategy Paper (BSP) to the Parliament.
The 2023 BSP outlines the proposed priorities for the forthcoming 2023 National Budget and will facilitate public, stakeholder and Parliamentary consultations and engagements on the policy priorities for the 2023 National Budget and meant to respond to a difficult global and domestic economic environment.
“The BSP proffers policy interventions expected to support the positive economic growth trajectory experienced to date and expand the country’s productive capacity, accelerate economic transformation, and build the resilience of the economy against adverse external shocks, hence the theme, Accelerating Economic Transformation.”
The minister said the economy is projected to continue on the growth trajectory, with a projected growth of 5 percent during 2023, while this growth is expected to benefit from the favourable international commodity prices, stable macroeconomic environment and improved production in all sectors of the economy.
The BSP has nine priorities drawn from the 14 thematic areas of National Development Strategy 1 (NDS1) that supports a balanced and integrated approach to development, in line with the thrust of leaving no one and no place behind.