The Minister of Economic Planning, Tapiwa Mashakada, told The Zimbabwean that government approved the revised plan in May.
Cabinet had rejected the initial plan done last June on the basis that its main targets were unrealistic and unlikely to facilitate economic recovery.
“The MTP is designed to meet the expectations of government, business, labour, academia, civil society and the general populace,” said Mashakada.
A planning commission to oversee the implementation of the plan will work under the Prime Minister’s office and report to the council of ministers,” Mashakada said.
He said despite reservation over the implementation of the programme from some quarters, there was new thinking in government that it should be run like a business – “this is not just rhetoric”.
The minister said the $9 billion required to fund the blueprint was achievable as it would be funded through internal resources, mainly royalties and grants.
“The wealth of this country far exceeds $9 billion and by unlocking the potential wealth and income we can set up wealth,” he said.
“The $9 billion is a target, it does not matter if we go for elections or not. It does not matter what dispensation will come out of an election, as it would be bound by the document,” said Mashakada.
He said although his ministry was targeting growth of 7 percent per annum it was not doing away with targets set by the ministry of finance.
“We are not doing away with those targets. This year, the economy will grow by 9,3%. It is a realistic figure,” Mashakada said.
The plan projects single digit annual inflation, a current account deficit of not more than 5% of gross domestic product, foreign exchange reserves of at least three months cover by 2015 and a budget deficit to converge with not less than 5% of GDP by 2015.
Post published in: Business