Can Zanu PF save Zim?

HARARE - Since the July 31 elections, it seems the economy has gone from bad to worse.

The little ray of hope created during the coalition government between President Robert Mugabe and long-time rival Morgan Tsvangirai has gone.

This is a bad start.

The circumstances on the ground say it all. When Mugabe’s government took over, it had its work cut out.

Clearly, its greatest task was, and remains, to come up with policies and strategies to save Zimbabwe’s investment-starved and broken economy from the abyss.

However, the developments in the three months since Zanu PF’s victory, paint a gloomy picture.

They evidently show that the once “tried and tested” Zanu PF and its veteran leader have no capacity to drive this economy forward.

The economy is back again on the downtrend with more companies shutting down and unemployment rising, contrary to Zanu PF’s promise to create at least two million jobs upon wrestling power from Tsvangirai’s MDC.

Government-owned institutions are at the forefront of laying off workers.

Recently, National Railways of Zimbabwe and Air Zimbabwe announced plans to retrench.

Furthermore, the prevailing liquidity crunch is now biting as investors back off and have become too cautious to invest in the country.

At the moment, Finance minister Patrick Chinamasa has postponed the 2014 national budget.

The treasury chief — one of Mugabe’s right hand men — says he needs more time to seek budgetary support.

But the timing is wrong. Industry, investors, businesses and other decision makers need the budget now.

It is a key policy in their planning and decision- making. This has put 2014 preparations on hold.

Apart from that, other nations are reluctant to bail out Mugabe and his government with the Chinese, which we have no choice but to turn to, imposing tight lending conditions.

Coupled with the postponement of the budget, government has unveiled its economic blueprint, Zimbabwe Agenda for Sustainable Socio-Economic Transformation but it remains withheld from the stakeholders.

Without the budget and the economic blueprint — key policy and strategy documents — industry and business cannot plan.

Also, Chinamasa recently said treasury had not received a single cent from diamond revenues.

He said, out of a targeted $40 million expected to be remitted from diamond sales in the nine months to September 2013, absolutely nothing came through.

This is baffling.

When Chinamasa’s predecessor, Tendai Biti, used to cry foul over non-remittance of diamond proceeds, Zanu PF argued that it was a political statement.

Zimbabweans can as well forget about the festive season. All this indicates tough times ahead.

Comments (9)

Only if biology removes the biggest stumbling!!!!!

Peter - 14 November 2013

its time for, "the just shall live by faith" when its tough the tough gets going"

mafia - 14 November 2013

You can rig elections but can't rig the economy Morgan said so after 31 july election theft. In next 4 month's we will be back to 2008 .Those who were ullulating for the thieves who stole election will then come to their senses and realise that zanu died long ago and any thoughts that it will revive our economy is being idiot

Dibulaanyika - 14 November 2013

So why are SOME Zimboz like mudzuri and those zani thugs failing to see that its Actually Morgen AND his his team that made the economy tick.?

fengu - 14 November 2013

A billion times no never ever can this organisation save an thing on two legs. This ia party that has destroyed the dreams and aspirations and made us international piriahs

Nathi - 14 November 2013

What is now worse Mr Reporter. Give facts eg during the inclusive gvt vs the 3monts you speak of.

CHOKWADI JEKERERE - 15 November 2013

Never Never Never. Get the real farmers back on the farms and only then will the economy and industry begin to fire.

ronaldos - 15 November 2013

we are only giving them a year vakaramba vachingotaura nonsense vanondiona

gedza - 17 November 2013

it is a shame to hear these crooks singing the same old song of sanctions. it goes to show a party that's clueless to turning around the economy. the 100% turn around of industries turned out to be the opposite. keep on rigging

atz - 17 November 2013

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