by Innocent Mujeri
Finance and Economic Development Minister, Professor Mthuli Ncube yesterday presented before Cabinet, the 2021 Pre-Budget Strategy Paper in which improved economic output has been projected for next year and subsequent years.
Addressing the media after the 36th Cabinet meeting yesterday, the Minister of Information, Publicity and Broadcasting Services, Senator Monica Mutsvangwa, said the Cabinet received and approved the 2021 Pre-Budget Strategy Paper, which Minister Ncube presented.
“Cabinet received and approved the 2021 Pre-Budget Strategy Paper, which the Minister of Finance and Economic Development presented.
“Cabinet was informed that the 2021 Budget Strategy Paper constitutes a valuable tool which is intended to guide consultative discussions and sharing of ideas on national policies, programmes and projects,” said Minister Mutsvangwa.
According to Minister Mutsvangwa, the projected improved economic output for 2021 was hinged on the resumption of global activity, projected good agricultural season, and enhanced revenue collection.
“Cabinet noted that prospects of 2021 and beyond are based on recovery from the COVID-19 pandemic, resumption of global economic activity, a good agricultural season, and enhanced revenue collection,” added Minister Mutsvangwa.
Minister Mutsvangwa further said that Minister Ncube informed Cabinet that the country’s economic revival will also depend on sustainability of the foreign currency auction system ,trade and tourism resumption, the materialisation of mining investment targets and the firming of international mineral prices.
The 2021 budget is expected to focus on critical economic areas such as inclusive growth and macro stability, development and supporting productive value chains, human capital development and well-being, and engagement and re-engagement.
Minister Mutsvangwa also said the approved 2021 Pre-Budget Strategy Paper was going to lay the foundation for the new economic blueprint, the National Development Strategy (NDS) that is expected to be officially launched next month.
Minister Mutsvangwa said the NDS, which is expected to run from 2021 to 2025, is a successor to the Transitional Stabilisation Plan (TSP) which is coming to an end in December this year.
The NDS is expected to continue consolidating the achievements of the TSP as the country continue to move towards Vision 2030 of attaining an Upper Middle Income economy by 2030.
