Leonard Ncube at Victoria Falls
THE inaugural Zimbabwe Economic Development Conference (ZEDCON) kicked off here yesterday with a call for more research to underpin policy formulation and implementation that will guide the country’s transformation agenda towards Vision 2030.
The Ministry of Finance and Economic Development is hosting the event, which will be officially opened by President Mnangagwa tomorrow.
The conference aims to engage various stakeholders with regards to policy implementation and is expected to contribute to the 2023 budget formulation process.
It provides an opportunity for captains of industry, academics and Zimbabweans in general to reflect on economic experiences as a country and deliberate on key policies to accelerate the economic transformation agenda that the government has been pursuing since the advent of the Second Republic in 2017.
In her welcoming remarks, the Deputy Minister of Finance and Economic Development, Clémence Chiduwa, said that the Second Republic has adopted a transformative new approach to economic management rooted in national aspirations.
Under Vision 2030, Zimbabwe is committed to achieving a prosperous and self-reliant upper middle income society.
“Vision 2030 cannot be achieved by the same old way of doing things. This convention reflects that effort, a whole new way to engage with key stakeholders,” said Deputy Minister Chiduwa.
“The conference theme: “Accelerating Economic Transformation through Evidence-Based Policymaking” draws inspiration from and aptly aligns with the theme of the 2023 Budget Strategy Paper, which is “Accelerating Economic Transformation “.
He said the situation in Zimbabwe requires concerted efforts of experts from around the world to discuss and analyze the development strategy. “To meet the aspiration of Vision 2030, research becomes essential to inform implementation progress and provide corrective action where needed,” he said.
“Zimbabwe, like many other developing countries, relies less on research in policy formulation and implementation. This is even important given the confluence of calamities currently affecting economies around the world such as climate change, geopolitical tensions and health epidemics, among others. This therefore clearly demonstrates the need for more in-depth diagnosis of the challenges and implementation of country-driven solutions,” Deputy Minister Chiduwa said.
Through the National Development Strategy 1, the government envisions economic growth and stability at a growth rate of 5% each year, along with the provision of key and transformative public infrastructure and improved service delivery.
Deputy Minister Chiduwa said the government’s priority was to restore market confidence as well as achieve exchange rate and inflation stability. Therefore, the 2023 macro-fiscal framework and policy reforms will focus on sustainable fiscal management, supportive monetary policy measures and addressing structural bottlenecks.
Meanwhile, participants called for the inclusion of the private sector and industry in policy formulation, addressing the causes of huge money supply and runaway exchange rates in order to reduce macro shocks. -economic. – @ncubeleon.