Zimbabwean President Emmerson Mnangagwa has ordered Cabinet Ministers to submit their five-year plans of action aligned to his government’s new economic blueprint, the National Development Strategy One (NDS-1) until the end of March.
Mnangagwa launched the new five-year economic blueprint last year with the aim of targeting an economic growth rate of five percent per annum to catapult the country into an upper-middle-income economy by 2030.
Addressing the first Cabinet meeting for this year at State House Tuesday morning, Mnangagwa reminded Cabinet Ministers to focus on delivering their mandates.
“As we implement the NDS-1, let me remind you of my directive at the 40th meeting of 2020 that you are required to draw your ministerial five-year plans of action aligned to the NDS-1 for consideration by cabinet before the end of March 2021. Cabinet will continue to provide policy direction in order to ensure that we stay on course.
“I am pleased to note that already, the 2021 budget is aligned to the implementation of year one of the plan, and every effort will be made to ensure that the set targets are achieved as envisaged,” Mnangagwa said.
The NDS-1 runs from 2021-2025 and succeeded the Transitional Stabilization Program (TSP) which ended last year. Its other objectives are to accelerate economic growth, improve the public sector and strategic infrastructure such as energy, ICT, transport and house delivery, among others.
Other objectives under the new economic blueprint include maintaining fiscal balance at no more than three percent of GDP, single-digit inflation, increase in international reserves to at least six months import cover from the current less than a month, as well as maintaining domestic and external debt at below 70 percent of GDP.
During the five-year period, the government is also aiming to create 760,000 formal jobs as well as accelerate value addition in the agriculture and mining sector.