Finance Minister Patrick Chinamasa has claimed a massive economy growth rate rise from 1, 7 percent to 3, 7 percent.
Chinamasa says he has revised this year’s economic growth rate due to prospects of a bumper harvest expected this farming season and positive results already trickling in from sweeping economic policies being implemented across all sectors of the economy.
Among other things, Chinamasa said he is addressing issues to do with ease of doing business, policy clarity, high cost of doing business and engagement of the international community to bring back the country on a robust economic revival path.
Addressing military officers attending the Joint Command and Staff Course Number 30 in Harare yesterday, Finance and Economic Development Minister Patrick Chinamasa said this good harvests anchored on Command Agriculture expected this year would spur economic growth nationally.
“We have never spent as much money as we have done on agriculture as we have done this season,” said Minister Chinamsa.
“I am pleased that with the blessings of the Almighty, who gave us abundant rains, we are anticipating growth in agriculture. In fact, we are revising growth in the agricultural sector which in turn we are revising the overall growth. I anticipate after the revision our growth to be around 3, 7 percent from 0, 7 percent or so that we had anticipated in the 2017 National Budget.
“We are looking at maize, we are anticipating production of around US$3 billion from all sectors – Command (Agriculture), Presidential Input Scheme, A2 farmers, A1 farmers, those who did not subscribe to Command Agriculture we are expecting grain delivery of 3 million metric tonnes. This is over and above what we achieved last year of around 1 million metric tonnes, even less around 750 000 metric tonnes.
Too ambitious to pin economic revival on a mere bumper harvest. Sustainable industrial growth is key to economic growth. Sound and sustainable economic policies that attract foreign Direct Investment are the answer not this piecemeal command agriculture harvest talk show. We produce big through command agriculture but without industry ressuccitation we will sell our raw produce cheap and import processed goods thereby going back to our depressed economy cycle and the endless liquidity challenges. Get the enviroment right first , investment will flow and the economy grows. Fix the top line and the bottomline will follw suit.