Apolitical Economic Approach; a Progressive Modus Operandi

Economic variables do explicitly vindicates that our economy is indeed between the devil and the deep blue sea, and to that regard, we should never in any whatsoever way try to find solace in this economic status quo, and neither must we both accentuate nor perpetuate our tenacity over a politically skewed approach to this unfolding crisis. Everyone ought to play this economic ball.

Finance minister Patrick Chinamasa

Finance minister Patrick Chinamasa

The chronic challenges militating against our economy  are emanating from a village of  factors cutting across the board, for example, a relenting negative variance interms  of revenue collection by the taxman, highly subdued aggregate demand as inflation is lingering in the negative territory, skimpy investment  inflows, very illiquid environment, faint lines of credit to needy productive sectors -  worse off attached with usurious interest rates, poor country credit rating especially owing to the matured debt owed to Bretton Woods Institutions (IMF, World Bank, AFDB), European Investment Bank (EIB),  bilateral and multilateral creditors both under the Paris Club and outside, minimal industrial capacity utilisation tottering at 34% according to 2015  CZI figures, policy inconsistencies, to name a very few .

This elephant in our room is very gargantuan.

In my stand point, many if not all of these challenges castrating our economy are being dictated by government’s stance or approach to arrest them. Our government is holding fast to an approach that is politically oriented thus, overlooking, closing doors or turning a deaf ear to views or opinions of government  outsiders, obviously, owing to political discrepancies  that might be existing as the complexion of those views  or opinions will hastenly be labelled as a threat. Unprogressive indeed.

The government of national unity (GNU) (2008-2013) is a spick-and-span example of the merits of  a collective approach to an economic crisis; even though the period was marred with  some political tiff. Under this period many positives were registered as industrial capacity utilisation surged to an average 54%, an improvement in Gross Domestic Product (GDP) as it averaged 5,4%, bank deposits started going north, improved cost of living and overall betterment in  living standards, inter alia.

The GNU also culminated to the crafting of the Medium Term Plan (MTP), which was mainly spearheaded by then Minister of Investment Promotion, Dr Tapiwa Mashakada. If it were to be afforded ample space to breathe and settle, assumably, the blue print could have ushered a modicum of stability into all strategic sectors of the economy, but nevertheless, politics strangled  it to death as it was consigned straight to the dust bin post GNU expiry, that is, 31 July 2013.

However, on 2 August, 2016, I marvelled how  the Minister of Finance and Economic Development, Hon Patrick  Anthony Chinamasa, clearly  and vociferously enunciated in Parliament on the urgent empirical  need to collectively confront these economic constraints irrespective of our political inclination or anything whatsoever of that sort. Earnestly, the time is now to engage on that collective and inclusive gear to our nation’s economic woes.

I know that many if not everyone including i, come from a school of thought which concurs that politics and economics are  not  alienatable; but like in our context, if the marriage is barren why must we cling to such a tenet?. The time is now rather than later to collectively weather this economic storm devoid of our political hats, lyrics or mantras.

Zimbabwe solutions to Zimbabwe economic challenges can be proffered by me, you and all of us!

Takudzwa Chisango is President of the Zimbabwe Business Coordination Campaign (ZBCC), a campaign which promotes effective and collective coordination among business, and other strategic economic stakeholders through dialogue facilitation. He can be contacted on tchisango.zbcc@gmail.com or +263 771 297 898.

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