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Business Reporter

The Grain Millers Association of Zimbabwe is warming up to a bumper winter wheat season, which it said was buoyed by the sound and complimentary fiscal and monetary policies recently announced by the Government.

In a statement yesterday, GMAZ national chairperson, Mr Tafadzwa Musarara, said the fiscal policy statement announced by Finance and Economic Development, Professor Mthuli Ncube, augured well with the monetary policy statement issued by the Reserve Bank of Zimbabwe Governor John Mangudya.

This, said Mr Musarara, gave the impetus to economic turnaround which will ultimately help in the attainment of National Development Strategy1 and Vision 2030.

“We are further thrilled by the current bumper grain harvest, particularly maize, which way exceeds the national requirement. The management of the same by the Government, in partnership with private sector, confirms to international best practices being executed to reward farmers and replicate the same bumper harvest in the forthcoming seasons. 

“Judging from the hardwork done so far by Government and Private Sector, we look forward to good winter crop harvest. 

“The combination of the two will sustain the current sufficient national supply levels and price stability in the meat, dairy and other related industries,” said Mr Musarara.

He said as one of the key anchor sectors in national food security and nutrition matrix, they welcomed both the 2021 Mid Term Monetary Statement announced in Parliament by Prof Ncube and the monetary policy statement announced last week by the central bank.

“We note with satisfaction that there is complementarity by the two statements towards consolidating and sustaining price and exchange rate stability. The two policies exposes the Government’s continued strenuous efforts in maintaining fiscal discipline and tight monetary conditions towards achieving macroeconomic stability. The expected 7,8 percent GDP growth in 2021 against the economic headwinds fermented by negative Covid-19 economic impact, attests to a buoyant economy manifesting,” said Mr Musarara.

“The positive comments and acknowledgements by the International Monetary Fund and World bank on the country’s key economic indicators testifies to prudent economic practices by the Harare Administration.”

In his mid-term policy statement, Prof Ncube said Zimbabwe’s economy was doing well with growth prospects on track despite the stalking shadow of Covid-19.

He revised upwards the projected growth for this year from 7,4 percent to 7,8 percent.

The strong economic growth trajectory was anticipated to spill over to next year given the economic fundamentals that have been put in place.