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Govt admits policy failures

GOVERNMENT has conceded that it was found wanting in the implementation of previous economic blueprints and now pins its hopes on its ambitious National Development Strategy 1 (NDS1) to cure the current economic ills.

The NDS1 is the second blueprint launched by President Emmerson Mnangagwa’s administration, following in the footsteps of the Transitional Stabilisation Programme (TSP), which was launched in 2018 to run for two years but fell flat.

 

Zimbabwe has in the last three decades launched several economic recovery plans which missed their targets due to failure by authorities to implement reforms and keep expenditure within budget.

But the southern African nation is in the throes of its worst economic crisis in more than a decade underpinned by the continuing collapse of its Zimdollar on the more representative parallel market.

 

Its economic plight was made worse by the outbreak of the coronavirus that caused lockdowns which resulted in companies shedding jobs in an effort to stay afloat.

 

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