ZIMBABWE President Emmerson Mnangagwa says the current austerity measures being implemented by his Government will stabilise the economy and spur growth after years of decline.
He said this whilst addressing the 331st ordinary session of his ruling ZANU PF party politburo meeting in Harare on Wednesday.
“I am aware that our current austerity measures are causing some hardships to our people. But this is necessary for us to have a stable and growing economy which is in sync with others in the region and elsewhere,” he said.
“If we choose populist policies we will be doing a disservice to our country. So we must brace up and endure the hardships, albeit always explaining to our people what we are trying to do.
“As I highlighted in the past, the situation will begin to get better by the end of the year.”
Some of the measures announced by Government to raise extra revenue but directly impacting on ordinary Zimbabweans include the 2 percent tax on electronic transactions.
President Mnangagwa reiterated that Government’s major priority at the moment is development anchored on the concept of devolution.
“Our priority is a development agenda that leaves no one behind. Thus, during the conference of chairpersons of Rural District Councils from across the country, we emphasized that devolution is about modernisation and industrialisation at that level and tier of Government.
“This must be executed drawing from the human and natural resource endowments at ward level,” he explained.
Meanwhile, President Mnangagwa was expected to leave the country later on Wednesday for a State visit to Namibia.
“During my visit l will be commissioning the Walvis Bay Dry Port facility which should assist in the movement of our imports and exports, once completed,” he said.