The government’s genius plan to pull us out of the economic quagmire through which we a staggering is to wait for the rains it has been revealed. In the budgetary paper released yesterday, the government revealed the dire state of the economy which will contract by 6.5%.
They also unveiled their master plan which shows just how short on ideas they are. According to the paper, the Zimbabwean economy will grow by 4.6% in 2020 because:
- Improved rainfall season which should enhance agriculture production and electricity generation with trickle-down effects to other sectors;
- Recovery in aggregate demand;
- Improved foreign currency availability; and
- Improved macro-fiscal stability and business confidence
If this is the government’s plan then we are doomed. It all hinges on the rain season and if the rains fail again which is a possibility given climate change we are doomed.
- He doesn’t say how aggregate demand will improve given inflation and salary erosion in the face of increasing prices
- How is the country going to boost its foreign currency earnings, so far it has failed dismally and now relies on remittances more than ever
- Business confidence is not going to improve given how the authorities have adopted a non-consultative legislative approach where they ambush businesses and the public with crafty laws meant to knock them off balance.
Last week during the Ecocash ban furore, President Mnangagwa delivered his State of The Nation Address, #SONA as it has come to be known. His main plea was for patience as the public is increasingly growing restless as they face daily price increases.
He said the government had a plan to turn things around. His principal right-hand man in this quest is Finance Minister Mthuli Ncube who has also asked us to judge him after six months. This is after he said we should judge him after a year a year ago.
This plan is desperate and sad.
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