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Mthuli Ncube unveils his Transitional Stabilisation Programme

by Staff reporter
05 Oct 2018 at 16:15hrs | Views
The Minister of Finance, Professor Mthuli Ncube has unveiled the Transitional Stabilisation Programme blueprint expected to address current economic challenges and propel the country towards stabilisation and development.

Launching the blueprint in Harare this morning, Minister Ncube said the programme will run between 2018 and 2020 and will facilitate the implementation of vision 2030 as several macroeconomic systems are being included in the policy.

While the World Bank says a middle-income economy is the one with a gross national income ranging between US$1005 and US$ 12 235 per capital, the government has made it clear that painful decisions should be pursued to achieve such gains.

This latest document becomes one of several modalities towards ensuring economic and social recovery following years of economic stagnation which have seen the economy failing to reach the desired prosperity targets.

"The stabilisation programme will focus on macroeconomic stability, economic reforms, addressing infrastructure gaps and quick wins to stimulate private sector growth," the Minister said, adding that that through the blueprint, the country is going through the primary stages of a radical economic transformation that will witness the country becoming a middle-income economy by 2030.

Asked to comment on the recently introduced two cents per dollar tax on electronic transactions from five-cent per transaction which has created an outcry from the public and business, Minister Ncube said he will fine-tune the structure.

"The structures will be reviewed as it seeks to adjust the real modalities," he said.

Some of the key highlights of the new blueprint include restoration of fiscal balances, mobilisation of domestic savings, reform of the public service, resuscitation of industries human development and governance reforms, among others.

It is, however, the hope of Zimbabweans that the blueprint will not just be a document that will gather dust but a key pathway to prosperity.

The programme comes at fiscal authorities are working to address several challenges in the economy which include lack of liquidity in the economy and foreign currency challenges.

Source - zbc