The Second Republic has recorded positive progress in the implementation of the National Development Strategy 1 (NDS1) priority projects during the first quarter of 2021 despite the shocks brought about by the Covid-19 pandemic.
The strategy has 14 national priority areas, which seek to ensure that the country attains an upper middle class economy in line with Vision 2030.
Speaking at a post-Cabinet briefing yesterday, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said a comprehensive review exercise had been conducted by the national monitoring and evaluation Joint Review Committee.
“The momentum established during the first quarter should be sustained in order to yield better results during the second and subsequent quarters of 2021. The required Gross National Income (GNI) per capita of between US$4 125 and US$12 736 by 2030 can only be achieved through constant consolidation of gains scored. The GNI for 2020 was US$1 155, and the projected figure for 2021 is US$1 835, reflecting a 60 percent growth rate,” Minister Mutsvangwa said.
She said the current state of macroeconomic conditions, suggested that an increase in aggregate demand would increase consumption, without provoking uncontrollable inflationary torrents.
Minister Mutsvangwa said the attainment of food security was on target following the good rains which were received during the 2020-2021 cropping season, buttressed by the implementation of the Agriculture and Food Systems Transformation Strategy, which was headlined by the climate-proofed Presidential Input Scheme (Pfumvudza/Intwasa).
“Regarding the pillar on moving the economy up the value chain and attainment of structural transformation, it is pleasing to note that industrial capacity utilisation in 2021 is set to surpass the 50 percent target and rise to 61 percent according to the Confederation of Zimbabwe Industries (CZI),” she said.
She said Government had already met the target of putting three percent of the road network in good condition as part of the road infrastructure rehabilitation under the Emergency Road Rehabilitation Programme which was being implemented in all provinces.
“In particular, the first quarter target of upgrading and widening the Harare-Masvingo-Beitbridge highway was achieved. Generally, progress in the sector was hampered by among others, vandalism of electricity distribution equipment, obsolete equipment, and shortage of foreign currency to embark on new projects as well as completion of outstanding projects,” said the Minister.
Furthermore, Minister Mutsvangwa said Cabinet had approved proposals on the rationalisation of subsidies presented by the Minister of Finance and Economic Development Professor Mthuli Ncube.
“The nation is informed that consistent with the overarching goal of the National Development Strategy 1:2021-2025 (NDS 1), it has become necessary that a guiding framework with regard to subsidies be established,” she said.