By Gift Mashoko
Government in conjunction with UNFPA Zimbabwe launched a study report on harnessing the demographic dividend (DD) in Zimbabwe which calls for greater investment in young people.
Minister of Finance and Economic Development, Professor Mthuli Ncube highlighted that the study’s objective was to see Zimbabwe’s prospect for harnessing the demographic dividend and what it is all about.
“The primary objective of the study was to access the country’s prospects for harnessing the Demographic Dividend and identifying priority options for maximising the dividend. The study achieved these objectives by estimating the life cycle deficit.
“They indicate potential, that is, they require the appropriate socio-economic context and a supporting policy framework in order for their benefits to be harnessed. Demographic change in the absence of these requirements can create conditions for social stability,” he said.
Professor Ncube said that Zimbabwe was in a phase where the impact of Demographic Dividend on economic growth was still positive and gave ways to maintain growth.
“Zimbabwe is currently in a phase where the impact of the Demographic Dividend on economic growth is still positive but this phase is waning. In addition to the large life cycle deficit , the country is presently saddled with an extremely large dependency burden from Children and young people, both of which need to be financed by sources other than labour income generated from within the country.”
“These other sources could include financing from asset including rents from natural resources, transfer inflows from the rest of the world (diaspora world remittances, or dissaving (borrowing),” he said.
Professor Ncube said the study provides several policy interventions that will enable the country to take full advantage of the demographic dividend. The policy interventions include reducing fertility through enhancing voluntary family planning services, reinforcing investments in health and education, prioritising economic reforms in order to make a difference in the lives of today’s young people and integrating population dynamics into national development planning frameworks.
