Industrialists expect confidence rebuilding measures to consolidate growth

By Stanley James, Business Editor

As the Second Republic forges ahead with economic reforms, industrialists have underscored the need for authorities to continue harnessing confidence through measures that consolidate the growth trajectory.

Global confidence on the economy determines the value of businesses in terms of trade, growth, strategic partnerships and capital inflows, among other indicators.

With the International Monetary Fund (IMF) giving a vote of confidence on Zimbabwe’s economy, experts are convinced that there is need to focus on long term solutions to economic challenges.

“The economy has what it takes to guarantee further growth, but that will only be subject to relevant measures being put in place in terms of the currency reforms,” Zimbabwe National Chamber of Commerce Past President, Mr Obert Sibanda noted.

Zimbabwe’s fiscal authorities are also expected to focus on measures to contain budget deficits.

“Supplementary budgets are not ideal. What is needed is that element to boost confidence by focusing on balancing the act between revenues and expenditures,” said Mr Elisha Tshuma, Zimbabwe Association of Customs Experts president.

The business community further expects economic blue prints such as the National Development Strategy One to be fully implemented as the country journeys towards an upper middle income society by 2030.