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Term Plan January 2010 - December 2015
The Medium Term Plan (MTP) is the premier economic and social policy document of Zimbabwe. It responds to the mandate set out in Article III of the Global Political Agreement (GPA) to support the restoration of economic stability and growth in Zimbabwe. It builds on the foundations laid by the Short Term Emergency Recovery Programme (STERP).
The MTP will guide all other Government policy documents and sets out clearly the national priorities for the next Five Years, 2010-2015.
The vision for Zimbabwe is that of a growing, transforming and globally competitive economy, with jobs, equity, freedom and democracy.
The MTP's main goal is to maintain macroeconomic stability and restore the economy's capacity to produce goods and services competitively, building upon the gains achieved under the STERP. Since March 2009, the launch of the STERP, the Government of Zimbabwe has achieved the first goal of macro-economic stability; maintaining this stability is a pre-requisite to sustainable economic growth.
The second goal of economic growth will be realized through:
i. Transformation of the economy from being a producer of primary commodities to value addition and new knowledge based industries;
ii. Balanced development and equal opportunities for all;
iii. Institution of sound economic and sectoral policies; and
iv. Sustained delivery of quality services such as health care, education, road transportation, (including rural, urban and trunk roads),energy, water and sanitation.
The targets of the MTP are:
i. Achieve GDP of $9 billion by 2015;
ii. Maintain single digit annual inflation;
iii. Low interest rates and sustainable BOP with a current account balance of not less than 5 percent of GDP;
iv. Increase in employment to above 1997 levels by 2015;
v. Sustained poverty reduction and progress in line with MDG targets;
vi. Foreign exchange reserves of at least three months import cover by 2015;
vii. Double digit savings and investment ratios by 2015; and
viii. Improved social indicators, including education and health as they are fundamental for the sustainable development of the economy.
The MTP priorities flow from the Government Work Programme Priorities published in March 2010. Future annual Budgets, and the Budgets' Macro-Economic Policy Framework, will be closely aligned to these priorities. In implementing the MTP and achieving the national vision as set out in the Plan, the following strategic priorities will underpin all Government policies and programmes:
I. Private Sector-led economic recovery;
II. Employment creation and poverty reduction;
III. Human development and social security;
IV. Good governance; and
V. Cross cutting issues.
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