13 November 2012

Zimbabwe: Call to Align Investment Plans to MTP

Zimbabwe's strategic plans, investment programmes and budgets must be aligned to the Medium Term Plan, Vice President Joice Mujuru has said. In a speech read on her behalf by Minister of State in her office Sylvester Nguni at the launch of the first annual Medium Term Plan implementation progress report in Harare yesterday, VP Mujuru said it was important to take stock of the progress made since its launch almost a year and half ago.

She lauded the Economic Planning and Investment Promotion Ministry for co-ordinating sector working groups that were involved in the monitoring and evaluation of MTP implementation process.

"This (launch) is a demonstration that as a nation we have moved away from shelving quality economic blueprints in our offices after their launch.

"This annual progress report is a product of consultations among Government, the private sector and our partners," she said.

MTP is Zimbabwe's economic blue print setting out policies and programmes to be implemented between 2011 and 2015.

Its thrust is to maintain macro-economic stability, restore and transform the country's capacity to produce goods.

The major objectives include sustainable economic growth, development and transformation, poverty reduction, employment creation, price stability and sustainable balance of payments position.

VP Mujuru said the 2013 budget process should be guided by the MTP and said the coming budget should mobilise more resources to agriculture.

"We need more investment in agriculture. It is the mainstay of our economy; in fact we had to revise our economic growth rate from 9,4 percent to 5,6 percent because of poor agricultural performance."

She said the MTP was a homegrown economic solution unlike previous programmes that were drawn and inspired by foreign institutions.

"The Esaps were not adequately funded by medium to long term sustainable financing and did not achieve much for Africa but MTP has improved the state of our economy to date," she said.

Prime Minister Morgan Tsvangirai said any developmental model must be based on the natural resources a country has.

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