Finance Minister, Professor Mthuli Ncube has said that the “painful” austerity measures were over and the country was now moving to adopt measures which stimulate growth.
In an interview with Zimpapers Television Network (ZTN), Prof Ncube said, that the coming rainy season will be critical for the agriculture sector and for power generation in the country. He added:
But also, we expect the budget to be more supportive of growth. We have said the 2020 budget is about growth and productivity in the main and job creation, supporting competitiveness and of course making sure that we have shared growth.
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So, that stance on growth and productivity, away from austerity – we have done austerity and it has served us well, it has created a good base and allowed us to do a lot of reforms, which have been painful. Now we’re ready to move to the next stage, which is to stimulate growth.
Meanwhile, Ncube indicated that the two percent transactional tax, which for some is the face of austerity measures, was here to stay saying it can be a foundation for an effective tax regime in the country.
Some analysts have urged authorities to re-dollarise in order to contain inflation and ensure growth.
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