LIVINGSTONE MARUFU
ZIMBABWE needs urgent and bold decisions to address the current economic challenges that the country is facing, President Mnangagwa has said.
The development comes at a time when prices of basic commodities’ prices are skyrocketing on a daily basis.
Mnangagwa told the business community during an engagement meeting at State House on Monday that the budget deficit containment would be instrumental to the country’s economic recovery.
“We all agree that our country faces serious challenges including budget deficit and significant debt and these challenges are surmountable. These challenges are significant but with major structural reforms our task is not insurmountable.
“What is required is urgent and bold decisions and we cannot run away from challenges, the longer we wait the harder it becomes,” said Mnangagwa.
He said: “My Government has developed a comprehensive plan to revive the economy and the only way to a stronger economy is to restructure, rebuild and reform the economy. The measures involved are painful to get budget deficit under control.
“The measures will be felt by all of us but are unavoidable and these measures are of a doctor performing life-saving operation. However, the pain leads to recovery.”
Government is expecting to lead this budget deficit reduction, he said.
Mnangagwa promised a continuous dialogue between government and business to bring long lasting solutions in moving the country forward.
More unnecessary government expenditures are expected to be reduced in the near future so that government will live within its means, he said.
Government is encouraging Zimbabweans to work harder and strive for better.
Mnangagwa said the open for business mantra would also include local investors.
Government said it was committed to make deep structural reforms, liberalise the economy and privatise parastatals to achieve the 2030 middle income vision.
