Zanu PF unveils plan to save Zimbabwe economy

Zimbabwe's President Robert Mugabe has rubberstamped a new plan designed to lift the country's aligning economy.

The plan, called the Zimbabwe Agenda for Socio-Economic Transformation (Zim Asset) , is a five-year economic plan designed to make good on a raft of Zanu PF election promises which include rolling out the indigenisation programme to poor Zimbabweans.

"All the source documents recognise the continued existence of the illegal economic sanctions, subversive activities and interference in the country's internal affairs by some hostile countries. This therefore underlines the need to come up with sanctions busting strategies and to put emphasis on reliance on local funding for the plan, hence Zim Asset's focus on the full exploitation of and value addition to the country's abundant resources,'' said Finance Minister Patrick Chinamasa.

The blueprint projects that the economy will grow by an average of 7.3 percent, improve by 3.4 percent in 2013, 6.1 percent in 2014 and continue on an upward growth trajectory to 9.9 percent by 2018.

The policy has four strategic clusters that the government will prioritise - food security and nutrition, social services and poverty eradication, infrastructure and utilities, and value addition and beneficiation.

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