Zim set for rebound

ZIMBABWE is on course to an unparalleled economic rebound built on the foundations of Government’s reform programme, which has stabilised the economy over the second half of the year, President Mnangagwa has said.

In an address which touched on themes ranging from ruling party zanu pf party’s internal politics and socio-economic issues, to a specially convened Mashonaland East Provincial Coordinating Committee (PCC) meeting in Marondera yesterday, the President said the country is on firm ground for a rebound.

Government will not be deterred by economic sanctions, which have deprived the country of international financial support, but will, in fact, harness local resources for development, said President Mnangagwa,

Interventions and reforms on the macro-economic front over the last two years have brought indisputable evidence that the country is moving forward.

“The 2019 National People’s Conference held in Goromonzi and the resolutions made there, urged us to strengthen the party and to remain focused and united towards growing as well as modernising, industrialising and developing every sector of our economy,” said the President.

“Under the Second Republic, we are about action, action and action; production, production and production, not just talk, we are on the move. We are moving forward, success is now evident, even if some newspapers are desperate to paint a sad picture, we will continue to succeed.”

Successive budget surpluses recorded by Treasury have seen Government directing resources towards capital projects and social safety nets.

Zanu PF and Government were action-oriented and geared to deliver growth development.

“In spite of the sanctions we are delivering visible results. The Transitional Stabilisation Programme has delivered.

“I commend the party for denouncing sanctions on 25 October. Africa and the progressive world stood with us in calling for the lifting of the sanctions,” said President Mnangagwa.

He said the resolution by Sadc Heads of State and Government to declare October 25 as a day to show solidarity with Zimbabwe against economic sanctions was historic.

“For the first time in nearly 20 years, SADC stood together and made a resolution in Dar es Salaam and denounced sanctions in all SADC capitals. We thank them for the support. Our economy is now on the move. We have achieved a number of milestones.

“Successful implementation of the TSP, economic reforms, prudent fiscal discipline and good stewardship to public resources has enabled Government to direct resources towards national development and capital projects.”

The Foreign Currency Auction System introduced in June, said the President, has stabilised the exchange rate and prices of goods and services.

Furthermore law enforcement agents will be arresting individuals behind currency manipulation witnessed previously.

“We had a problem with inflation and what was happening in our economy until we discovered the source of the problem and we plugged those loopholes. Those who were behind the menace who have not yet been arrested will be arrested.

“We put restrictions on mobile money transfers and some of you were infuriated by that decision but that did not deter us because we knew that we were doing the right thing for our economy.”

He added: “When we unite and share ideas we can build this nation on our own.”

The President said the successful rehabilitation of over 100km of the Harare-Beitbridge Highway through local contractors was evidence that locals can develop the country.

Turning to the party’s internal politics, the President said the forthcoming District Co-ordinating Committee (DCC) elections would strengthen the party’s mobilisation machinery ahead of the 2023 harmonised elections.

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