business meeting 20.09.10.jpgGovernment has finalised a revised Medium Term Plan (MTP) document paving way for the cabinet and key stakeholders to consider the implementation of the much awaited 5 year economic blue print.

The arrangement is being made after the initial Medium Term Plan (MTP) document was rejected by the cabinet in June last year on the basis that its main targets were unrealistic and unlikely to facilitate economic recovery.

It targeted at mobilisation of more than US$20 billion in the 5 year period from external financiers, focusing on foreign direct investments to boost economic activity and projected 15% real Gross Domestic Product annual growth rates.

The government had to revise proposed targets for the MTP to comply with economic requirements through focusing on strategies to solve capital constraints, boost industrial, productivity, restore business confidence, unlock export receipts from locally produced goods and create jobs.

The Permanent Secretary in the Ministry of Economic Planning and Investment Promotion, Dr Desire Sibanda said the revised Medium Term Plan document has been finalised and is awaiting cabinet approval.

“The proposed economic blue print is finalised and we hope it will suit the needs of the economy in the short to long term,” Dr Sibanda said.

An economic commentator, Mr Trevor Jakachira said it is in the interest of the economy that the revised Medium Term Plan should focus on workable policies to consolidate economic gains.

“We hope that the new policy will among other factors create a platform for industrial growth to unlock value in business activities,” he said.

The Medium Term Plan, which is expected to succeed the Short Term Emergency Recovery Programme (STERP), is aimed at consolidating economic gains through policies that boost investment inflows and maintain single digit inflation rates among others.