by Grace Chekai
Cabinet yesterday approved the National Development Strategy (NDS) which will enable accelerated and sustainable economic growth and development, Harare Post has learnt.
The Minister of Finance and Economic Development, Professor Mthuli Ncube presenting the NDS to Cabinet said “The National Development Strategy outlines the policies, legal and institutional reforms, programmes and projects for identified National Priorities that will be implemented over the Strategy`s five-year lifespan.
“This will help to achieve accelerated, high, inclusive, broad-based and sustainable economic growth and development,” Professor Ncube said.
According to Minister Ncube`s presentation, the NDS 2021-2025 is the Second Republic`s first of two 5-year Medium-Term plans aimed at realising the country`s Vision 2030.
The NDS succeeded the Transitional Stabilisation Programme (TSP): 2018-2020, which focused on, inter-alia, stabilising the macro-economy and the financial sector, and thus laid the foundation required for economic growth.
Minister Ncube said that the review on the TSP will be published at the end of the programme period, by the end of December 2020.
He further said the NDS will therefore build on the successes and challenges of the TSP and aim to steer the economy into a growth path with an average growth rate of 5 percent per annum over the strategy period.
The Minister mentioned the objectives of the NDS which includes; to strengthen macroeconomic stability, stabilise inflation, as well as the exchange rate, to achieve and sustain inclusive and equitable Real GDP growth, to promote new enterprise development, employment and job creation and to strengthen Social Infrastructure and Social Safety Nets among other things.
Meanwhile, during the briefing, Government stated that it had reviewed upwards by 40 percent, the civil servants’ salaries, which will be awarded to Deputy Director Grade and below.
In addition to the salary increase, teachers will be awarded a 10 percent risk allowance. The new basic salary package for the teacher is now ZWL$18 237, which is above the Poverty Datum Line (PDL) at ZWL$17 244 according to Zimstat.
