11-10-20 by Spotlight Zimbabwe

Zim projects 7.4% economic recovery in 2021

 

Stanley James

Industrialists are expecting fresh incentives in the 2021 national budget to restore the viability of the manufacturing sector which has also not been spared from the effects of Covid-19.

The 2021 national budget will be presented in the next few weeks.

Employers Confederation of Zimbabwe (EMCOZ) president Dr Israel Murefu says the revival of the manufacturing sector is key to job creation.

“We want to see how they can formulate a policy to improve the performance of the manufacturing industries.”

A financial analyst Mr Tinashe Guma says there is need to speed up implementation of the Zimbabwe National Industrial Development Policy.

“It is an industry that also plays an important role in economic development so we just anticipate more incentives.”

Industrialist Mr Alouis Kadonzvo spoke on the need to support firms that are embracing import substitution.

“It is key to reducing employment costs, harnessing local resources and limiting the extent of depending on external goods and services.”

According to a 2021 budget strategy paper, treasury is projecting a 7,4 per cent recovery in the economy next year.

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