President Mnangagwa said the government is implementing a range of policy measures to halt price increases, stabilize the foreign exchange rate and ultimately preserve the value of the Zimbabwean dollar, with a regulated currency set to be introduced soon.
Addressing the first Cabinet session of the year at State House in Harare yesterday, President Mnangagwa said his administration would continue to formulate sensible fiscal and monetary policies.
He said these would ensure that the country has a conducive business environment which is crucial to Zimbabwe’s economic growth and stability.
“Prudent fiscal and monetary policies and the promotion of a favorable business environment remain critical to the stability and growth of our economy. Accordingly, the fiscal and monetary authorities are implementing a range of policy measures to stem price increases, stabilize the foreign exchange rate, preserve the value of our currency, and encourage end-to-end saving.” The end.
He said that the Second Republic realizes its responsibility to provide for the needs of Zimbabweans and ensure that their aspirations are met as promised.
To this end, President Mnangagwa has tasked government ministers to lead the implementation of transformative programs that promote industrialization, modernization and rural development across the country.
“As we regroup, I urge us to remain mindful of the fact that we have a responsibility to deliver on the promises we made to the people of our motherland, Zimbabwe, which saw them vote overwhelmingly for our party, the ZANU-PF, in the 2023 elections. Harmonized general elections and subsequent by-elections “.
The President said all ministerial programs must remain aligned with and never deviate from the country’s economic development, as stipulated in the National Development Strategy 1 (NDS1).
“In line with our commitment to leave no person or place behind, I direct you all to focus on implementing transformative programs that promote industrialization, modernization as well as rural development across the country.
“To this end, the policy imperatives I announced at the government’s retreat on September 14, 2023, must be part of the strategic plans of your ministries,” he said.
“At the same time, all ministerial programs must remain consistent with economic development priorities as outlined in the National Development Strategy.”
In the wake of recurring cholera outbreaks, President Mnangagwa said the Second Republic would continue to improve the provision of drinking water, sanitation facilities and waste management services. He subsequently directed the relevant ministers to keep him updated.
“Decisive action is essential to raise the level of efficiency within all public institutions, particularly our public health systems, and especially in the context of cholera outbreaks and other threats from climate change. Providing clean water, sanitation facilities and waste management services is a priority,” the President said. Mnangagwa: “I expect real-time updates in this regard.”
Infrastructure development was also a priority and will remain a signature of the Second Republic.
Some of the ongoing infrastructure projects include the modernization of the Forbes Border Post, road and dam infrastructure projects as well as the recapitalization of the Zimbabwe National Railways, among others.
“Infrastructure development remains a priority for the Second Republic. Greater focus will be placed on key projects, including the modernization of the Forbes Border Post, the Harare-Chirundu Expressway, the Harare-Kanyimba Road, the Tugwi-Mukhosi Control Tunnel and the recapitalization of the National Railways in Zimbabwe.
“The completion of the Mbudzi Junction, Gwai-Shangani Dam and other strategic dams across our provinces will be expedited.”
With Zimbabwe assuming the presidency of the Southern African Development Community (SADC), President Mnangagwa said it was necessary for the country to increase its contributions to the development of the region.
As a result, he urged the ministers to carry out their mandate “with the utmost excellence and attention to detail” as they will chair various ministerial committees.
“On the international relations front, our engagement and re-engagement policy is bearing fruit. Zimbabwe’s assumption of the Chairmanship of the Southern African Development Community this year places a greater responsibility on our country to contribute to the broader regional development agenda.
“For your part as ministers, it is your responsibility to discharge your duties as chairmen of the various cabinet committees with utmost excellence and attention to detail,” President Mnangagwa said. He praised the ministers and relevant stakeholders for successfully leading the rescue efforts following climate change concerns that occurred in some of the country’s mines.
“Over the past two months, some areas of the country have witnessed disasters attributed to climate change and other causes. Our mining sector has not been spared. I commend all stakeholders for the successful rescue, treatment and care efforts undertaken, in the wake of mine-related disasters.
“The ministers concerned are expected to update the Cabinet on these matters,” President Mnangagwa said.
He said that the government needs to pursue innovative and alternative ways to circumvent dilemmas resulting from sanctions imposed by the West as well as climate change.
“Despite the burden of illegal sanctions and climate change, new innovative solutions and alternative paths must be pursued to achieve further progress,” the President said.
According to the World Bank, Zimbabwe’s economy is expected to grow by at least 3.5 percent, despite the negative effects of climate change, Western economic sanctions and sabotage from some unscrupulous locals. Announce
