Zimpapers Logo

Mukudzei Chingwere, Herald Reporter

ZIMBABWE’S quest to become an upper middle income economy by 2030 is well on course after National Development Strategy 1 (NDS 1) exceeded targets of all key economic indicators, with Cabinet approving the roadmap for the formulation of National Development Strategy 2: 2026-2030 (NDS2).

Speaking after yesterday’s Cabinet meeting in Harare, Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere said the approval of the NDS 2 roadmap came ahead of the end of NDS 1 (2021-2025) in December next year.

He said the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, had presented the roadmap to Cabinet.

“Fiscal consolidation, monetary policy restoration, liberalisation of the foreign exchange market, structural and governance reforms, infrastructural development, engagement and re-engagement, investment promotion and support to the productive sectors were recorded under NDS 1.

“NDS 2 will be the country’s second five-year medium-term plan towards the realisation of the country’s Vision 2030,” said Dr Muswere.

“It will contain strategies and interventions which will ensure sustainable inclusive growth and development, innovation for modernisation and industrialisation, adaptation to climate change, eradicating poverty and promoting sustainable livelihoods of the vulnerable members of society.

“The process of coming up with the NDS 2 blueprint is set to take 18 months and is scheduled to be completed in November 2025”.

RELATED STORY

• NATIONAL DEVELOPMENT STRATEGY 1 (2021-2025) (NDS1): AN OVERVIEW 

He said the preparatory stages started with the launch of the economic census which started in May 2024 and will run until June 2025.

Dr Muswere said the crafting of NDS 2 would start with stakeholder consultations to come up with national priorities which would be the key pillars for NDS 2 formulation and implementation.

“The national priorities will be crafted by 15 November, 2024 followed by the formation of NDS 2 thematic working groups, and strategies formulation from February 2025 to May 2025.

“NDS 1 terminal evaluation will be carried out during the period April 2025 to June 2025 followed by NDS 2 drafting from June 2025 to October 2025.

“The draft NDS 2 will be presented to Cabinet for approval in November 2025 and thereafter launched for implementation”.

Last year, Cabinet received and adopted the NDS1 performance report for the fourth quarter of 2022 with all key economic development indicators showing that the Government achieved and exceeded set targets, thus setting the stage for the achievement of an upper middle income economy.

Spurred by a desire to promote rapid and sustainable economic development, President Mnangagwa has set Zimbabwe on a development trajectory through which the economy is set to attain upper middle income status by 2030.

Several economic pillars from agriculture, mining, tourism to the manufacturing sector had individual sectoral targets set for them, which would feed into the broader national economic target as set by the President.

Despite the Covid-19 headwinds slowing down global economies, President Mnangagwa’s Government has managed to ensure that Zimbabwe rises above these challenges.

Prof Ncube recently said a country’s economic progress could not only be measured by money in people’s pockets alone but also by infrastructural and community development projects that were impacting positively on citizens.