Deputy Minister of finance and economic development Clemence Chiduwa says the 2022 national budget is centrally on enhancing production as it focuses on empowering the youth and women through value addition. Hevoi FM News has learnt.
“All that we want to do is to enhance production. Let me say that so far we have finished the stakeholder consultative meetings with the majority of the relevant people and groups in the country. The 2022 budget is not all that different from that of 2021. Our focus is however fundamentally on empowering the youth and women for the purpose of value addition,”he said.
Presented on 26 November 2020, last year`s budget was basically on Building Resilience and Sustainable Economic Recovery. It sought to redress the advent of hyperinflation and the significant devaluation of the Zimbabwean dollar.
Chiduwa further elaborated that the Ministry is pinning its hopes on the implementation of National Development Strategy 1 for the period 2021 to 2025.
“The National Development Strategy 1 has got a total of 14 pillars. The macro economic growth and stability pillar has proved to be highly significant since it enabled us to recover from the 837% inflation recorded in July last year to 54.5%. Right now we are experiencing a meaningful currency stability which is again a major contributing factor in prices determination.” said Chiduwa.
Meanwhile economic researchers have confirmed that production has gone up from 37% to 47% following implementation of the macro economic growth pillar.
The Ministry is expected to unveil the 2022 national budget this month.