Business / Economy
Zim's economy is set to grow despite illegal sanctions says Chinamasa
24 Sep 2013 at 13:46hrs | Views
The Minister of Finance, Patrick Chinamasa, says despite the illegal sanctions imposed by the West on Zimbabwe, the country's economy is set to grow in leaps and bounds.
He said there is so much confidence amongst all stakeholders that Zimbabwe's economy will perform "if we put our economic enablers right; that is water and electricity."
He said: "There are also sectors of the economy that have quicker returns, citing mining and agriculture, where money from there should be re-invested in other sectors such as manufacturing which need retooling so that Zimbabwean products are competitive and the costs of productions lower."
Chinamasa, who was appointed Finance Minister for the second time after serving in the same capacity during the hyper-inflationary era, said the Reserve Bank must also be re-aligned taking into cognizance that at one time the central bank was the Lender of Last Resort and was also the Banker of Bankers.
He added that an aggrieved section of society whose foreign currency was utilised by the central bank during troubled times need an urgent redress.
He said as a new minister, he has been meeting stakeholders across the private and public spectrum of society to get ideas on how best they can turn around the economy.
Chinamasa expressed confidence that in the next five years the country is going to see fast development.
He urged all Zimbabweans to work together to grow the country's economy.
He said there is so much confidence amongst all stakeholders that Zimbabwe's economy will perform "if we put our economic enablers right; that is water and electricity."
He said: "There are also sectors of the economy that have quicker returns, citing mining and agriculture, where money from there should be re-invested in other sectors such as manufacturing which need retooling so that Zimbabwean products are competitive and the costs of productions lower."
Chinamasa, who was appointed Finance Minister for the second time after serving in the same capacity during the hyper-inflationary era, said the Reserve Bank must also be re-aligned taking into cognizance that at one time the central bank was the Lender of Last Resort and was also the Banker of Bankers.
He said as a new minister, he has been meeting stakeholders across the private and public spectrum of society to get ideas on how best they can turn around the economy.
Chinamasa expressed confidence that in the next five years the country is going to see fast development.
He urged all Zimbabweans to work together to grow the country's economy.
Source - zbc
