Govt urged to implement new policies with speed

The business sector has urged government to implement new policies with speed or risk further contraction of the economy characterised by more company closures, job losses, skills flight and shortfalls in public revenues.

Confederations of Zimbabwe Industries (CZI) president Charles Msipa said in an interview the business sector stood ready to work with the government to implement new policy measures aimed at easing business conditions and reduce costs.

There is broad agreement on the need to implement more investor-friendly policies in order to attract greater levels of investments and to create and maintain employment.

The key is in disciplined and timely implementation of the measures, Msipa said. If the measures are not implemented with speed, the economy is likely to contract further, leading to more company closures, job losses, skills flight and shortfalls in public revenues versus expenditures.

Finance and Economic Development minister Patrick Chinamasa projected a growth rate of 3,2% in 2015 in his budget presentation for this year.