Staff Reporter
Zimbabwe's National Development Strategy 1 (NDS1) is receiving high praise from economic analysts for its substantial contribution to the country's mid-term economic growth, showcasing remarkable resilience and progress across various sectors.
Implemented as a successor to the two-year Transitional Stabilisation Programme, NDS1 ambitiously targeted key areas such as economic growth and stability, food security, governance, human capital development, environmental protection, housing delivery, the digital economy, health, infrastructure, international engagement, and social protection.
This comprehensive approach has now placed Zimbabwe among the fastest-growing economies in its region.
"The inclusive and consultative nature of the mid-term review, incorporating insights from Government, business, academia, and civil society, has been pivotal in evaluating NDS1's effectiveness," said John Moyo, an economic analyst.
Despite facing global economic shocks, Zimbabwe's economy demonstrated remarkable resilience.
The nation achieved impressive real GDP growth rates of 8.5 percent in 2021, 6.5 percent in 2022, and 6.2 percent in the first quarter of 2023.
This growth was largely fuelled by the agriculture and mining sectors, catapulting Zimbabwe to a leading position in regional economic performance.
Another economic commentator, Grace Nyoni, said that policies introduced by the Second Republic played a crucial role in establishing macro-economic stability.
"These policy measures have been fundamental in curbing inflation, thus stabilising our economy," noted Nyoni.
Mark Chikukwa, also an economic commentator, said that the introduction of a foreign exchange auction system in mid-2020 was another strategic move that stabilised market pricing and effectively mitigated the impact of global commodity price shocks.
"This system has been instrumental in maintaining a stable economic environment," stated Chikukwa.
Food security remained a top priority, and despite challenges such as climate change and the COVID-19 pandemic, Zimbabwe impressively managed to exceed its maize production targets set under NDS 1.
"The country's success in achieving self-sufficiency amidst these challenges is highly commendable," said analyst Rachel Sibanda.
The manufacturing sector also witnessed significant growth, with locally produced goods now comprising 80 percent of supermarket inventories.
"The jump in capacity utilisation from 36.4 percent in 2020 to 66 percent in 2022 marks a notable upturn in our manufacturing sector," remarked Sibanda.
As Zimbabwe reaches the halfway point of the NDS1 timeline, these accolades from various economic analysts underscore the strategic effectiveness and success of the development agenda. The country is on a steadfast path towards sustainable economic growth and stability.
