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Monday, May 27, 2024

Productive sector performance bearing economic spinoffs

Story by Davison Vandira

 REVIVAL of economic anchor sectors including agriculture, mining and infrastructure development has started bearing financial spinoffs to local companies supplying equipment and implements to these industries in line with the government’s inclusive development policy.

A local supplier and manufacturer of agricultural, mining and construction equipment has outlined the positive net effect the revitalisation of the agriculture sector has triggered on their business which has also shaped the future outlook of the economy.

The milestones being achieved by Zimplow Holdings are an indication of how government expenditure is stimulating real economic activities across the economy in line with the National Development Strategy One which places high priority on increased productivity.

Zimplow Holdings CEO Mr Vimbai Nyakudya says their focus is on fostering economic development through supporting productive clusters.

“As a company involved in the agriculture and mining value chain we are most grateful to government expenditure which has enabled both private and public players to increase their uptake of our equipment and this will help strengthen the overall economic development agenda which the country is earmarking,” he said.

Development Economist, Mr Titus Mukove believes the government has set the country on a sustainable growth trajectory.

“Encouraging developments that have been triggered by the government by supporting the productive clusters of the economy is now bearing fruit when one considers the spinoffs being realised by downstream and upstream economic activities,” noted Mukove.

With sustainable and adequate support to productive sectors of the economy by the government, economists believe Zimbabwe’s targeted 5% yearly growth of Gross Domestic Product will be achieved through enhanced macroeconomic stability.

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