Industry expects productive sectors to be given priority in budget review

By ZBC Reporter

INDUSTRY and economists are expecting government to continue prioritising productivity in the mid-term fiscal review to be presented by the Minister of Finance and Economic Development Professor Mthuli Ncube this Thursday.

The 2021 National Budget running under the theme “Building Resilience and Sustainable Economic Recovery” has seen the country improving on a number of macro-economic variables including inflation, current account and balance of payments.

It is in this context that industry, particularly the Zimbabwe National Chamber of Commerce expects fiscal authorities to continue strengthening the pro-productivity stance through various incentives to maintain the upward growth trajectory.

As industry we expect the government to continue improving the operating environment through various initiatives in supporting key productive sectors of the economy in line with the national aspirations,said ZNCC President Dr Tinashe Manzungu.

Economists are also expecting government to accelerate the drive towards achieving COVID-19 herd immunity and lay the foundation for the opening up of the economy.

We don’t expect much tinkering with the already existing budget but we foresee more focus being enhanced in key economic enablers like infrastructure development as well as agriculture and the manufacturing sector,

He has done extremely well with regards to the collection of revenue and we don’t expect much to be done on that area but we are looking at government expenditure where we would like the government to continue purchasing vaccine so as to improve labour mobility which is key in the country’s growth matrix.

According to economic observers, the 2021 Zimbabwe economic outlook is bright despite the devastating effects of COVID-19