Home » Industry » Structural Reforms Needed to Restore Economic Stability

Structural reforms remain the most fundamental ingredient to the Government drive to restore macro-economic stability and boost economic growth, an expert has said.

Nathan Associates director Rafael Enriacutequez, whose consulting firm the government has contracted to manage the Strategic Economic Research and Analysis Programme (SERA) says political will was already showing but more structural reforms were still required.

“Since 2009, the Zimbabwe Government has been working to restore macro-economic stability and boost economic growth,” he said.

“The Government has made significant progress, but numerous structural reforms are still needed to increase growth and encourage trade, investment, and job creation.”

The SERA is meant to improve the economic environment for inclusive growth in Zimbabwe by building capacity for evidence-based policy analysis, strengthening the capacity of policy development institutions and improving economic data for use by researchers and other stakeholders.

The programme was launched in 2011 and ends next year.

“In an endeavor to achieve the stated reforms, we are managing SERA with the aim to achieve results in improved capacity for evidence-based analysis of economic policy and for policy management and improved capacity in government to analyse, adapt, and implement evidence-based options for economic policy” said Mr Enriacutequez.

Absence of improved quality, timeliness, and availability of economic data and statistics are some features of government bureaucracy that have been cited as needing correction.

The government has engaged the firm to offer technical assistance to the Zimbabwe National Statistics Agency (ZIMSTAT), and the Zimbabwe Economic Policy Analysis and Research Unit (ZEPARU).

Technical assistance to ZEPARU includes research and analysis, training of economists and Parliamentarians, as well as research dissemination and policy workshops.

The government has previously used recommendations from such consulting companies to craft legislation, especially in mining.

New Ziana.

Source : The Herald