Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697706842085.pdf (Zimbabwe)
ZIMBABWE TRANSITIONAL STABILISATION PROGRAMME REFORMS AGENDA October 2018 – December 2020 “Towards a Prosperous & Empowered Upper Middle Income Society by 2030” 05 October 2018 Harare 1 1 Contents INTRODUCTION .............................................................................................................................. 5 Reform Initiative ....................................................................................................................... 7 Programme Highlights .............................................................................................................. 9 PART I: POLICIES DEALING WITH MACRO-ECONOMIC IMBALANCES ................................... 9 Macro-Economic Environment ............................................................................................... 10 Restoration of Fiscal Balance ......................................................................................................11 Fiscal Deficit ............................................................................................................................11 Financial Sector Vulnerabilities .............................................................................................. 12 Sustainable Deficit Financing ................................................................................................. 13 Fiscal Revenues ..................................................................................................................... 14 Mobilising Domestic Savings ...................................................................................................... 15 Financial Sector Support for Development ............................................................................ 15 Competitiveness of Exporters ................................................................................................ 16 Monetary Policy Reforms ....................................................................................................... 16 PART II: INSTITUTIONAL REFORMS TO ACHIEVE GROWTH & DEVELOPMENT .................. 17 Budget Expenditure Control ........................................................................................................ 17 Expenditure Management Measures ..................................................................................... 18 Reform of the Public Service....................................................................................................... 19 Public Enterprises & Local Authorities’ Service Delivery ........................................................ 20 Public Corporate Governance ................................................................................................ 20 Empowerment of Provinces ........................................................................................................ 21 Rent Seeking & Corrupt Behaviours .......................................................................................... 21 Ease of Doing Business............................................................................................................... 22 Integrating into Global Financial Markets .................................................................................. 22 Sustainable External Flows .................................................................................................... 23 PART III: PRODUCTIVE SECTOR REFORMS ............................................................................. 24 Smart Agriculture ......................................................................................................................... 26 Mining Exploration & Development ............................................................................................ 27 Resuscitating Industry & Industry Development ...................................................................... 29 Protecting the Environment ........................................................................................................ 30 3 PART IV: SERVICES SECTOR REFORMS................................................................................... 31 Tourism ................................................................................................................................... 31 Digital Economy ..................................................................................................................... 32 Banking & Financial Sector Services ..................................................................................... 32 Insurance & Pension Savings ................................................................................................ 33 PART V: INVESTING IN PUBLIC INFRASTRUCTURE ................................................................ 33 PART VI: HUMAN DEVELOPMENT .............................................................................................. 43 Education Delivery ................................................................................................................. 43 Health Provision ..................................................................................................................... 44 Empowerment ........................................................................................................................ 44 PART VII: GOVERNANCE REFORMS .......................................................................................... 45 PART VIII: IMPLEMENTATION, MONITORING & EVALUATION ................................................. 46 Implementation, Monitoring & Evaluation Framework ............................................................ 46 CONCLUSION ............................................................................................................................... 48 ANNEXURES ................................................................................................................................. 49 Annexure 1: Trends in Per Capita Income Growth ................................................................. 49 Annexure 2: Programme Implementation Architecture .......................................................... 50 IMPLEMENTATION MATRICES .................................................................................................... 51 COMPENDIUM OF INFRASTRUCTURE PROJECTS .................................................................. 55 4 INTRODUCTION 1.
The Transitional Stabilisation Programme over October 2018 to December 2020, which contains and expresses the aspirations of the people of Zimbabwe, draws its policy thrust from Vision 2030.

Vision 2030 2.

The aspirations of Vision 2030 will be realised through five strategic clusters, namely: • Governance.

• Macro-economic Stability and Re-engagement.

• • Inclusive Growth.

Infrastructure and Utilities.

• Social Development.


ZIMBABWE VISION 2030 Governance Macro- Economic Stability & Financial Re- Engagement Inclusive Growth Infrastructure & Utilities Social Development Cross Cutting Themes 3.

The aspirations of Vision 2030 of a Prosperous and Empowered Upper Middle Income Society are anchored by values and objectives which include: 5 • Improved Governance and the Rule of Law.

• Re-orientation of the country towards Democracy.

• Upholding Freedoms of Expression and Association.
• Peace and National Unity.

• Respect for Human and Property Rights.

• Attainment of Responsive Public Institutions.

• Broad based Citizenry Participation in national and socio-economic development programmes.

• Political and Economic Re-engagement with the global community.

• Creation of a Competitive and Friendly Business Environment.

• Enhanced domestic and foreign investment.

• An aggressive fight against all forms of Corruption.

4.
4.

The realisation of Vision 2030 will be through the implementation of the following Strategic Programmes, supported by appropriate annual National Budgets: • A two and a quarter year “Transitional Stabilisation Programme” to run from October 2018 to December 2020.

• Two Five-Year Development Strategies, with the first one running from 2021-2025, and the second covering 2026-2030.

Transitional Stabilisation Programme Objectives 5.


The Transitional Stabilisation Programme will focus on: • Stabilising the macro-economy, and the financial sector.

• Introducing necessary policy, and institutional reforms, to transform to a private sector led economy.

• Addressing infrastructure gaps.

• Launching quick-wins to stimulate growth.

6 6.

The Programme will prioritise quick-wins, and provide the necessary prelude to the two Five Year Development Strategies that will run from 2021-2030.
7.

In crafting this Programme, inputs of various stakeholders, who include business, labour, civic society, development partners, and other groups were taken on board.

Reform Initiative 8.

The Transitional Stabilisation Programme acknowledges policy reform initiatives of the New Dispensation to stimulate domestic production, exporting, rebuilding and transforming the economy to an Upper Middle Income status by 2030.

9.
9.

Much of the reform initiative was outlined in various policy pronouncements by the President, His Excellency E. D. Mnangagwa, starting from his Inaugural Address on 24 November 2017, as well as in the 2018 National Budget Statement outlined to Parliament on 7 December 2017.

10.
10.

Furthermore, Government also had opportunity to reinforce the core values and developmental agenda of the New Dispensation towards an Upper Middle Income Economy by 2030 on 19 April 2018 at the World Bank on the side-lines of the Spring Meetings of the International Monetary Fund (IMF) and World Bank in Washington DC.

11.
11.

Cooperating partner representation included senior management of the IMF, World Bank, the African Development Bank (AfDB), as well as the bilateral partners constituting major shareholding in the AfDB, World Bank and IMF.

Sacrifice & Perseverance 12.

The realisation of the Transitional Stabilisation Programme short term quick-wins for the economy will be underpinned by adoption of, and strict adherence to, macro- economic stabilisation policies that require painful trade-off, and sacrifice.

7 13.
7 13.

This is necessary to address fundamental challenges besetting the economy over the immediate term, targeted over October 2018 to December 2020.

Already, signs of green shoots are emerging, in response to the goodwill arising from political, governance and economic reforms introduced by the New Dispensation.

14.
14.

Macro-economic stability should allow for setting up of the necessary foundation for an effective launch of Zimbabwe’s developmental programmes and projects, with the first set to be outlined in the National Development Strategy for 2021-2025.

Opening the Economy for Business 15.


In order to attain the desired growth rate trajectory, Government will undertake significant reforms, such as improving the ease of doing business, improving competitiveness, and opening the country to international investors and financiers.

16.

This will focus Government more on policy design, institutional efficiency and regulation, that way facilitating the private sector to play a major role in running businesses.

17.
17.

Harnessing the digital economy and digital entrepreneurship has the potential of creating jobs for the youths, often at low cost.

18.

This will entail implementation of concrete plans to create an enabling environment for the digital economy to thrive, including supporting the availability of faster and reliable internet connection.

Rule of Law, Human & Property Rights 19.


This will further be reinforced by governance reforms, fairness in application of the rule of law, human rights, and upholding of property rights.

8 Programme Highlights 20.


As alluded to above, the Transitional Stabilisation Programme targets quick-win initiatives, through respective growth stimulation packages, as well as instituting supportive adjustment measures, which address various existing internal and external macro-economic and financial sector imbalances, and thereby, providing a foundation for robust economic growth and development beyond 2020.

21.
21.

The introductory Section of the Programme outlines the fundamental quick-win macro-economic targets to be realised over October 2018 and December 2020.

22.

The targets relate to Per Capita Income1, and the required Economic Growth Rates aimed at growing employment creation, and poverty reduction.

PART I: POLICIES DEALING WITH MACRO-ECONOMIC IMBALANCES 23.

This Section of the Transitional Stabilisation Programme identifies key macro- economic projections to 2020.
It also covers challenges and opportunities, and proffers strategies to address them under the following: • Macro-economic Environment.

• Restoration of Fiscal Balance.

• Mobilising Domestic Savings.

• Competitiveness of Exporters.

24.

The economy is projected to grow at around 9 percent annually in the first 4 years from 2019, before moderating to sustained growth rates of over 7 percent over the horizon of Vision 2030, as highlighted in the Table below on key macro-economic projections.
1 Please refer to Annexure 1 9 Macro-economic and Fiscal Projections Overall Performance Nominal GDP at market prices (US$ million) Gross Capital Formation % of GDP Real GDP Growth (%) Inflation (Annual Average) % Per Capita Income Government Accounts Revenues (including Retained Revenue) % of GDP Expenditures & Net Lending (US$ million) % of GDP Recurrent Expenditures % of GDP Employment Costs % of GDP Capital Expenditure & Net lending % of GDP Overall Balance % of GDP Balance of Payments Accounts Exports (US$ million) % of GDP Imports (US$ million) % of GDP Current Account Balance (US$ million) % of GDP -2323.9 -1504.0 -9.0 -5.2 5075.5 19.7 7342.4 28.5 -751.9 -2.9 5653.2 19.5 8397.6 29.0 -839.7 -2.9 7259.4 22.2 8391.8 25.6 6225.3 19.0 3973.0 12.1 2166.5 6.6 -1132.4 -3.5 6428.6 19.6 9363.8 28.6 -1092.5 -3.3 25.
Attainment of the macro-economic targets as projected above will be the overriding focus of the Transitional Stabilisation Programme.

Macro-Economic Environment 26.

A stable macro-economic environment, characterised by fiscal and monetary discipline, as well as a sustainable balance of payments position, is critical in building investor confidence.

10 27.
10 27.

The prevailing environment of macro-economic imbalances presents constraints to the rapid economic development of the country, as public deficits fuel unsustainable large fiscal borrowing requirements and money supply growth, in the process consuming scarce foreign reserves and undermining currency stability.

28.
28.

Weaknesses in the macro-economic situation have also resulted in a low savings rate, high public debt, and dilapidated infrastructure which is contributing to higher domestic production costs for business.

29.

Full restoration of macro-economic balance will necessitate a phased approach, spanning over the short, medium, and longer term.

Restoration of Fiscal Balance 30.


As reflected above, a major challenge relates to the unsustainable and prolonged fiscal deficits that perpetuate uncontrolled domestic borrowing, and feeding into vulnerabilities for the financial sector and the rest of the economy, and thereby, posing macro-economic instability.

31.
31.

The Programme, therefore, first and foremost, targets strengthening fiscal responsibility and management of Government expenditures in order to create an appropriate environment for increased Budget development expenditures that enable and enhance the economy’s overall productive activities.

Fiscal Deficit 32.
Fiscal Deficit 32.

The fiscal deficit, a major cause of macro-economic instability and financial sector vulnerability, is estimated at US$1.4 billion at the close of the first half of 2018, and projected at over US$2.7 billion in the absence of corrective measures.

33.
33.

Hence, the adoption and implementation of measures to begin regain of control and management of Budget expenditures over the period January 2019 to December 11 2020 is targeted to support gradual recovery in Budget expenditures on essential infrastructure.

Financial Sector Vulnerabilities 34.


Unsustainable and prolonged fiscal deficits that perpetuate uncontrolled borrowing from the domestic bank and non-bank financial system, including recourse to the overdraft at the Reserve Bank, pose financial vulnerabilities to the entire banking and financial system.

35.
35.

These impact on money supply growth, domestic price and currency stability, as well as on the stock of domestic bank deposits and non-bank savings available for channelling towards credit to the productive private sectors.

Credit to Government 36.

Annual growth in money supply to May 2018 stood at 40.8 percent, from US$6.5 billion last year to US$9.1 billion, underpinned by growth in domestic credit of 47.3 percent, mostly to Government.

37.
37.

Net credit to Government stood at US$6.2 billion as at end June 2018, up from US$3.9 billion as at end June 2017. Credit to the Productive Sectors 38.

Growing reliance on domestic sources for Budget deficit financing in the face of limited external financing, also impacts negatively on growth in credit to the private sector, which increased marginally by 6.1 percent from US$3.5 billion as at end June 2017 to US$3.6 billion as at end June 2018.

12 Sustainable Deficit Financing 39.


While the Transitional Stabilisation Programme measures to tame the fiscal deficit will be gradual, Treasury will in the interim resort to non-inflationary financing mechanisms for the deficit.

Treasury Bill Issuances 40.

The stock of outstanding Treasury bills as at June 2018 is US$6.7 billion, with a maturity value of around US$8.3 billion.
During the period 2017 to June 2018 Government issued Treasury bills and bonds amounting to US$4.3 billion to cover the financing gap.

41.

Of the US$4.3 billion issued, US$2.9 billion accounts for 2017 issuances, whilst the remaining US$1.3 billion was issued during the period to June 2018.

42.

In this regard, Government will from January 2019, revive the issuance of Treasury bills through an auction system as part of monetary policy operations to influence liquidity developments in the economy.

43.
43.

In addition, Government will, under the Transitional Stabilisation Programme, revive the issuance of bonds through the development of a secondary bond market, beginning 2019.

44.

Under the new thrust, the practice of settling Government obligations using Treasury bills will be discontinued, with such Bills only issued to raise resources for financing deficits and cash flow timing gaps arising from the Budget approved by Parliament.

45.
45.

The Reserve Bank, as banker to Government, will only issue Treasury bills via issuance of a Treasury Bill Issuance Note by the Accountant General.

On maturity, of the Treasury bills, the Reserve Bank will also be given authority, in writing from the Accountant General to debit the Government Account.

13 46.
13 46.

This will further improve accountability for disbursements made from public resources, while enhancing scrutiny over and monitoring the deployment of borrowed funds, maturity profiles and sustainability of the debt portfolio.

Fiscal and Financial Stabilisation Committee 47.

Treasury will preside over a Fiscal and Financial Stabilisation Committee to coordinate and monitor adherence to the fiscal and monetary targets outlined by the Transitional Stabilisation Programme.

Fiscal Revenues 48.
Fiscal Revenues 48.

The Transitional Stabilisation Programme recognises the role of domestic resource mobilisation in financing the transformation of the Zimbabwean economy towards upper middle-income status by 2030, complemented by bilateral and multilateral financial injections.

49.

This requires review and development of a much less complicated tax system.

Facilitative Taxation 50.


While compliance with fiscal and customs laws remains critical to the economic development of Zimbabwe, nurturing a competitive business environment will require support and innovation in the design and administration of taxation policies and measures.

51.

This calls for innovation in the design and administration of taxes, to include simplified tax structures for micro, small and medium enterprises.

52.
52.

Underpinning the thrust of the Transitional Stabilisation Programme tax policy is movement towards sustainable taxation, reduced penalties and interest, also nurturing businesses to enhance capacity to pay their tax dues, and remaining operational in order to produce, export, and create employment.

14 Plugging Revenue Leakages 53.


Furthermore, the Programme targets eradication of corruption, which is a major source of leakages to public revenues, and also a major cost to various productive activities.

Therefore, the Programme will institute strong measures to plug these leakages.

54.

Targeted areas include, among others: • Unethical Corrupt practices at Ports of Entry and Exit.

• Tax Evasion and Avoidance practices.

• Smuggling and Money Laundering.

• Unethical Procurement practices.


Mobilising Domestic Savings 55.

The Transitional Stabilisation Programme will oversee implementation from 2019, of the Financial Sector Development Plan that promotes emergence of a stable, sound and resilient financial system that supports efficient mobilisation and allocation of resources, necessary to achieve economic diversification, shared and sustained growth as well as poverty alleviation.

56.
56.

Hence, the Transitional Stabilisation Programme will prioritise implementation, over the period to 2020, of policy measures to enhance savings.

Financial Sector Support for Development Cost of Credit 57.

In view of the significance of credit in driving economic activities, the Transitional Stabilisation Programme targets increased access to affordable credit by all productive units of the economy with appropriate tenors.

15 58.
15 58.

Currently, banking institutions operate under lending rate thresholds as guided by the Reserve Bank, with lending to the productive sectors of the economy capped at 12 percent per annum, and 15 percent for non-productive sectors.

A penalty rate of 3 percent per annum is charged on non-performing loans.

59.

Government is considering further reviewing downwards the lending rate thresholds, to 8 percent per annum and below, to improve the competitiveness of the productive sectors.
Competitiveness of Exporters 60.

Production of goods for export remains Zimbabwe’s major source of foreign currency to support realisation of Vision 2030 towards a Prosperous and Empowered Upper Middle Income Society with job opportunities and high quality of life for its citizens.

61.

Support for competitiveness of domestically produced goods in both regional and international markets is, therefore, central to the initiatives under the Transitional Stabilisation Programme.

Monetary Policy Reforms 62.


The current cash and foreign currency shortages bedevilling the economy require attention and Treasury and the Reserve Bank continue to explore options to address them.

63.

The short-term measures that are critical in tackling these challenges include currency reforms and improving foreign currency generation to stabilise the foreign exchange market.

64.
64.

It also means strengthening Monetary Policy conduct and use of the Monetary Policy Committee, and move to a market-based foreign currency allocation system.

16 65.

The Programme will, therefore, institute measures that seek to strengthen the economy’s balance of payments, particularly with regards to enhancing exports, currency competitiveness, improving capital inflows, as well as managing over- dependency on imports.
Consequently, while a new and a more competitive currency appears to be part of the solution, it will be a challenge to introduce, given low confidence in its stability and little foreign reserves to support it.

PART II: INSTITUTIONAL REFORMS TO ACHIEVE GROWTH & DEVELOPMENT 66.

The Section outlines the institutional arrangements to achieve macro-economic objectives of the Programme focusing on the following: • Budget Expenditure Control.

• Reform of the Public Service.


• Public Enterprises & Local Authorities’ Service Delivery.

• Empowerment of Provinces.

• Rent Seeking & Corrupt Behaviours.

• Ease of Doing Business.

• Integrating into Global Financial Markets.

• Sustainable External Flows.

Budget Expenditure Control 67.

Government will be implementing austerity measures aimed at addressing fiscal and debt challenges for sustained macro-economic stability and growth.

68.
68.

In furtherance to the fiscal stance alluded to in the 2018 Budget, the Transitional Stabilisation Programme targets strengthening fiscal responsibility over control and management of expenditures, and entails: • Embarking on a comprehensive Fiscal Deficit Reduction Programme.

17 • Announcing to the market limits to Central Bank lending to Government and quasi Government entities.

• Financing fiscal deficit requirements from the market, and at market interest rates.
• Aligning Treasury Bill issuances to Parliament approved Budget borrowing requirements, to avoid discretion over Parliament unsanctioned ad-hoc issuances.

Expenditure Management Measures 69.

Expenditure management measures to address fiscal imbalances and ensure the National Budget anchors Zimbabwe’s developmental agenda are integral to the Transitional Stabilisation Programme over October 2018 to December 2020.

70.
70.

In this regard, the expenditure framework for 2019 and 2020 is premised on fiscal re-balancing and consolidation efforts which will anchor recovery of business and investment, also against the background of anticipated positive returns from re-engagement with the international community.

Public Finance Management System 71.


During the period to 2020, the Transitional Stabilisation Programme will prioritise strengthening of the Public Finance Management System, building on work already being conducted, under the World Bank managed Zimbabwe Reconstruction Fund, to roll out the system to cover all Districts.

72.
72.

Treasury will, in the context of the Transitional Stabilisation Programme, also put in place measures to ensure the strict enforcement of approved penalties for cases of non-compliance with requirements of public resource management legislation.

Wage Bill Containment Measures 73.


The 2019 and 2020 National Budgets will institute Wage Bill Containment Measures which will reduce the annual Wage Bill outlay by around US$200 million (0.7 percent of GDP) and US$130 million (0.4 percent of GDP), respectively.

18 74.

These measures include: • Moving away from an unfunded ‘Pay-As-You-Go’ pension arrangement by adopting a funded Defined Benefit Pension Scheme or Defined Contribution Scheme arrangement in line with best practice in other jurisdictions.
• Further review of Treasury Subventions.

• Right-Sizing Public Employment.

• Rationalisation of posts in the Public Service.

• Strengthening Wage Bill Management.

• Further reductions in Budget Travel expenditures.

• Further review of expenditures on fuel benefit levels from January 2019.

• Curtail acquisition and provision of vehicles by the State, including replacement of condition of service vehicles.

• Enforce measures on the use of Government Operational Vehicles by Public Officers.
• Rationalisation of the Foreign Service Missions.

• Review of Parliamentary sitting allowances.

• Limit expenditures on By-Elections.

Reform of the Public Service 75.

The Programme recognises the need to reform the Civil Service, that way beginning to make inroads towards managing the wage bill, which currently constitutes a disproportionate share of total Government expenditure.

76.
76.

To this end, the Civil Service will be recalibrated to propel the country to greater heights of prosperity for all citizens.

77.

At the operational level, the reform of the Civil Service is targeted to change its existing orientation, structure, functioning, temperament, performance, efficiency and 19 ethical base as the vital cog that is charged with the planning, implementation and improvement of national welfare and achievement of the development results and outcomes for all citizens.

78.
78.

The pursuit of Civil Service reform is informed by and designed to address a wide range of policy, institutional, systems and performance related challenges that characterise the existing Civil Service in Zimbabwe.

Public Enterprises & Local Authorities’ Service Delivery 79.

The Transitional Stabilisation Programme recognises that there is general low confidence in public institutions which include our public enterprises as well as our local authorities.

80.
80.

The Programme, therefore, targets scaling down over-reliance on recourse to unsustainable fiscal interventions and resort to Government guarantees by public entities and local authorities.

81.

Government will expedite the implementation of the Cabinet decision on restructuring, partial or full privatisation of entities with the following options being pursued: • Liquidation.

• Full privatisation.

• Transformation to regulator.

• Merging and de-merging.


• Departmentalisation into existing Ministries.

Public Corporate Governance 82.

The Transitional Stabilisation Programme will operationalise the Public Entities Corporate Governance Act, in order to rein in failing public entities, restore order, consistency, transparency and accountability in their operations.

20 83.
20 83.

Further, the Transitional Stabilisation Programme will review and extend the coverage of the Public Entities Corporate Governance Act to Local Authorities from the last half of 2019 in support of enhancing service delivery.

Empowerment of Provinces 84.


While Zimbabwe remains a unitary State, the implementation of the country’s development programmes will allow for devolution to achieve fair and balanced development, spearheaded by Provincial Councils which will initiate development programmes for their respective Provinces, consistent with Section 264 of the Constitution.

85.
85.

The Transitional Stabilisation Programme outlines targeted programmes to champion economic development across the Provinces, including the big cities such as Harare and Bulawayo.

86.

This represents a new Governance Dispensation where decentralisation becomes a key feature and strategy for fair and just governance across its four dimensions, namely administrative, political, fiscal and market.

87.
87.

To this end, the Civil Service Commission will facilitate the transfer of the requisite functions and establish the structures and systems that will enable all Provinces to plan and implement their economic growth and development using their factor endowments.

Rent Seeking & Corrupt Behaviours 88.

The Transitional Stabilisation Programme contains specific measures to uproot entrenched indiscipline and corruption, including nipping in the bud all opportunities for rent seeking.

89.
89.

The necessary disincentives and penalties for rent seeking, indiscipline and corruption are also an integral component of this Transitional Stabilisation Programme.

21 90.

This will include the review of the Penalty regime so that persons guilty of corruption are subject to effective, proportionate and dissuasive penalties, including empowering Courts, on the application of the Prosecutor General, to grant Civil Forfeiture Orders in respect of property from proceeds of corruption.

91.
91.

To further consolidate on the measures already put in place to cleanse society of the scourge of corruption, the Transitional Stabilisation Programme will strengthen and capacitate institutions and public service systems that enable early detection of corruption.

Ease of Doing Business 92.


The Transitional Stabilisation Programme will implement further measures to the Ease of Doing Business Reforms, with the objective of improving the country’s competitiveness in terms of the business and investment environment.

93.

This includes enforcing contracts, which currently is time consuming and difficult for the average business entity.

94.
94.

The Transitional Stabilisation Programme will also put in place the necessary legislative and administrative reforms to consolidate and harmonise the various scattered legislative pieces into an omnibus investment Act.

95.

The Act will bring in the birth to the Zimbabwe Investment and Development Authority, that way operationalising it as a One Stop Investment Authority.

Integrating into Global Financial Markets 96.


The Transitional Stabilisation Programme embraces all the major elements for re- engaging cooperating partners over resolving Zimbabwe’s external payment arrears, including having in place a comprehensive and coherent macro-economic policy framework, underpinned by a strong programme of fiscal adjustment and structural reforms.

22 97.
22 97.

The country’s foreign debt arrears amount to about US$5.6 billion, which is split among: • Multilateral creditors, US$2.2 billion.

• The Paris Club, an informal group of creditor nations, US$2.7 billion.

• Non-Paris Club creditors, US$700 million.

98.


The sequence towards resolution to Zimbabwe’s debt arrears of US$5.6 billion, will require the country clearing first, and simultaneously, its arrears to the AfDB, US$680 million, and the World Bank, more than US$1.4 billion; and the European Investment Bank, US$308 million.

99.
99.

The re-engagement process with international financial institutions, in particular the World Bank and the African Development Bank, will also advance the Transitional Stabilisation Programme efforts to unlock external new financing required by the productive sectors.

100.
100.

Government will also continue to strengthen relationships with Development Partners for implementation of measures aimed at leaving no one behind and ensuring sustainable and inclusive economic development, consistent with the Sustainable Development Goals.

101.

In order to strengthen cooperation between Government and Development partners, work is currently underway to review the existing aid coordination architecture.

Sustainable External Flows 102.


The need for a sustainable balance of payments position, underpinned by growing exports of higher value-added domestic goods is also emphasised.

103.

In this regard, the Transitional Stabilisation Programme targets taking advantage of distinct opportunities in the growing regional markets for increased trade, benefitting 23 from deepening of regional integration initiatives being implemented under the AU, COMESA and SADC.

104.
104.

The Reserve Bank will also facilitate ring-fencing of targeted arrangements for facilities in support of the export sectors, central to growing the economy and lowering the current account deficit.

PART III: PRODUCTIVE SECTOR REFORMS 105.

This Section identifies challenges in the productive sectors of the economy, and proffers policy interventions to build investor confidence, and enable private sector led economic growth.

106.
106.

In this regard, improving Zimbabwe’s investment and business climate, under the Transitional Stabilisation Programme, will entail consistent application of credible and sustainable policy interventions, underpinned by strengthening the rule of law.

107.

Central will be: • Sustained commitment to implementation of policies and measures that entail pain and sacrifice.

• Avoidance of arbitrary policy reversals.


• Absence of contradictory policy pronouncements, and mis-interpretations by different agencies of the State.

108.
108.

In order to enhance competitiveness of industries, the Transitional Stabilisation Programme will institute measures that address underlying causes of high cost of doing business, including inputs supply across various value chains, access to enabling public utilities, domestic cost of finance, and introduction of flexibility in Zimbabwe’s labour laws.

109.

The Section will, therefore, focus on the following: 24 • Sectoral GDP Growth.

• Transforming Agriculture.

• Mining Exploration & Development.


• Resuscitating Industry.

• Protecting the Environment Sectoral GDP Growth 110.

The economy is expected to surpass the initial growth projection of 4.5 percent in 2018 on account of more than anticipated performance across key sectors namely agriculture, mining, manufacturing, as well as services.

As a result, the overall economic growth in 2018 is now projected at 6.3 percent.
Sectoral Prospects GDP by industry at market prices, constant prices GDP by industry at basic prices, constant prices Core activities Agriculture and forestry Mining and quarrying Manufacturing Electricity and water Construction Distribution, Hotels and restaurants Supportive services Transportation and communication Financial, banking and insurance activities Government public administration, education and health Administrative and support service activities Education and training Human health and social work activities Private’s education and health Households-related services Real estate activities Other service activities 2018 2019 2020 6.3 6.3 11.3 12.4 26.0 2.8 3.2 14.0 6.0 3.5 5.0 1.5 -1.0 0.1 -4.6 7.6 -1.9 2.4 5.5 -0.4 9.0 9.0 13.0 9.4 16.1 7.6 2.6 12.3 19.5 10.1 8.8 12.0 0.4 -1.5 1.2 4.3 1.9 2.5 4.7 0.4 1.5 9.7 9.7 13.0 16.2 15.3 7.4 2.0 12.0 13.5 12.3 11.1 13.9 0.3 0.2 0.4 0.0 0.3 3.7 6.0 1.6 0.0 Private households with employed persons 0.0 Source: Ministry of Finance and Economic Development, Reserve Bank, ZIMSTAT 25 111.
Over the duration of the Programme, the economy is projected to grow by 9 percent in 2019, and 9.7 percent in 2020.

This growth will be underpinned by renewed business confidence and investment opportunities as the New Dispensation opens up Zimbabwe for Business across all sectors of the economy.

Smart Agriculture 112.


With respect to agriculture, the Programme presents quick-win investment opportunities for realisation of self-sufficiency and food surpluses that will see the re-emergence of Zimbabwe as a major contributor to agricultural production and regional food security in the Southern Africa region and beyond.

113.

The Transitional Stabilisation Programme envisages greater involvement of the domestic financial system in underpinning the financing of agriculture.

114.
114.

With regards to livestock, the Programme contains measures supportive of full recovery, in terms of the size and quality of the national herd, with accompanying benefits for improved supply along the livestock value chain, and ultimately meeting national requirements, as well as those of the export markets.

26 115.
26 115.

The Transitional Stabilisation Programme targets further strengthening of control and monitoring systems over the Special Agriculture Production Initiative inputs supply and distribution chain.

116.

Heavy reliance on Government support for the Special Agriculture Production Initiative will be gradually reduced as initiatives to enhance private sector support gather momentum, that way overcoming potential development of voids in capacitating production by the farmer.

117.
117.

In order to facilitate private sector investment in agriculture, Government will expedite issuance of bankable 99 Year Leases to allow farmers access funding from financial institutions.

118.

The New Dispensation has taken the decision to finalise compensation to all former farmers affected by the Land Reform Programme, in accordance with the country’s Constitution and Zimbabwe’s obligations under bilateral agreements.
Work towards this is being expedited through a Working Group comprising Government officials and representatives of former farm owners.

119.

The Transitional Stabilisation Programme also envisages Government improving farmer access to markets for livestock and other agricultural produce as a quick-win intervention over the remainder of 2018 into 2019 and 2020.

120.
120.

In this regard, Government will put in place modalities to operationalise the Agriculture Commodity Exchange to close the marketing gap that currently exists.

Mining Exploration & Development 121.

In mining, the Transitional Stabilisation Programme targets: • Re-opening of closed mines.

• Expansion of mines that are operating below capacity.

27 • Opening of new mines.

• Promoting beneficiation and value addition, through domestic smelting and refining, to increase earnings from mineral resources.
122.

The impact of mining goes beyond mineral exploration, exploitation, processing and value addition.

Mining is linked to many other value chain industries, and is targeted to contribute over 70 percent of the country’s export earnings in 2018.

123.

The first half performance in minerals such as gold, coal and chrome, among others, also point to better prospects for 2018, than the previous year’s forecast.
Mining Output Overall Growth Black Granite\ton Chrome\ton Coal\ton Cobalt\ton Copper\ton 2018 proj 26.0 182 2 000 4 500 500 9 500 2019 proj 16.1 184 2 200 4 800 520 9 700 2020 proj 15.3 190 3 500 5 000 550 9 800 2017 est 8.0 177 1 674 3 074 445 8 839 28 Gold\kg Graphite\ton Iridium\ton Nickel\ton Palladium\kg Phosphate\ton Platinum\kg Rhodium\kg Ruthenium\kg Diamonds\carats 2017 est 26 495 1 577 619 16 617 11 822 60 094 14 257 1 283 1 102 2 508 2018 proj 40 000 5 700 620 17 300 11 830 60 095 14 300 1 285 1 105 3 500 2019 proj 2020 proj Source: Ministry of Mines, Chamber of Mines and ZIMSTAT 124.
Mining proceeds present themselves as a necessary shot in the arm to the rest of the economy, with much more potential as mining revenues are ploughed back into the economy to create circular, self-reinforcing inclusive growth.

Resuscitating Industry & Industry Development 125.


The Transitional Stabilisation Programme will prioritise increased investment in the manufacturing sector, with emphasis on value addition and beneficiation of agriculture produce and minerals, to increase job creation and export earnings.

126.
126.

It is against this background that Government will facilitate roll out of outreach initiatives partnering domestic and foreign investors, building on the initial measures contained in the 2018 Budget and other Government policy pronouncements to improve the investment and business climate.

29 127.
29 127.

To enhance and embrace the informal market, the Transitional Stabilisation Programme will partner business Chambers and Confederations in facilitating development of mechanisms for strengthening linkages with formal business.

128.

The Transitional Stabilisation Programme will also focus on supporting sustainable micro, small and medium enterprises growth and development through business linkages, market access, cluster development, business incubation and support services.
Protecting the Environment 129.

With respect to environmental management, the Transitional Stabilisation Programme targets protection, restoration and promotion of sustainable use of terrestrial ecosystems, sustainable management of forests, fighting the veld fire scourge, combating desertification, halting and reversing land degradation and loss of bio- diversity.

130.
130.

Further, Government will integrate the necessary mitigatory measures into national policies, strategies and planning, to strengthen resilience and adaptive capacity 30 to climate related hazards and natural disasters.

This includes promoting climate resilient water management systems, focusing on both crop and livestock production.

PART IV: SERVICES SECTOR REFORMS 131.

This Section focuses on measures aimed at addressing the following: • Tourism.

• Digital Economy.
• Digital Economy.

• Banking & Financial Sector Services.

• Insurance & Pension Savings.

Tourism 132.

The Transitional Stabilisation Programme also targets support for aggressive marketing and rebranding of Zimbabwe, to facilitate tourism arrivals, taking advantage of the country’s diverse tourist attractions, ranging from natural, to man-made historical sites.

133.
133.

This will hinge on provision of innovative incentive packages, and the relaxation of all restrictive visa requirements, among other measures.

134.

The Transitional Stabilisation Programme will also review tourism operators’ licencing requirements with a view to improve entry into the industry and competitiveness of tourism products.

135.

This will include the streamlining of the registration, Licensing and Permit requirements, as well as the numerous charges and fees.

136.
136.

Furthermore, the Programme will also target sustainable financing of the tourism industry through the establishment of a Tourism Revolving Fund that will provide capital resources for tourism development.

31 Digital Economy 137.

Growth of Service Sectors also outlines opportunities for the digital economy arising out of adoption of ICT, with also benefits from increased investment in e-Government platforms.

138.
138.

In this regard, harnessing the digital economy and digital entrepreneurship contributes significantly to economic growth, and has the potential of creating jobs for the youth and at low cost, benefitting from applications of digital platforms.

139.

Central will be support for innovation and collaborative research among institutions of higher learning, in partnership with technology oriented industry, taking advantage of opportunities and niche in the digital economy.

140.
140.

The Transitional Stabilisation Programme also targets broadening adoption and utilisation of e-Government across Ministries, Departments, local authorities and State owned enterprises in the provision of public services to cut loopholes for corruption.

Banking & Financial Sector Services 141.

This Section also outlines the role of banking and financial sector services in savings mobilisation, including financial inclusion initiatives to embrace previously disadvantaged sectors such as SMEs.

142.
142.

Underpinning the above, will be focus on mobilisation of deposits through promotion of a culture of savings and investment, to engender the role of the banking sector in financial intermediation, particularly in supporting productive and export sectors to at least 90 percent of total banking sector lending.

143.

The Transitional Stabilisation Programme will continue to encourage use of plastic money through digital platforms.

32 Insurance & Pension Savings 144.


The Transitional Stabilisation Programme is targeting insurance penetration to reach 20 percent, with various affordable micro-insurance products via the mobile phone targeted to emerge as the leading drivers of insurance penetration.

145.

Drawing from offshore experiences, the Transitional Stabilisation Programme also targets review of some of the stringent insurance industry licencing requirements, including for brokers and underwriters.

146.
146.

In order to address the perennial arrears problem, Government will, over the Transitional Stabilisation Programme, institute a number of public sector pension reforms, including rationalising and harmonising pension contribution rates for parastatals and local authorities.

147.
147.

Government has mandated the Insurance and Pensions Commission to unpack the findings and recommendations of the Commission of Inquiry into the Conversion of Insurance and Pension Values from Zimbabwe dollars to United States dollars, and come up with an implementation framework that will address complaints relating to low values, low confidence, corporate governance challenges and high expense ratios, among other things.

PART V: INVESTING IN PUBLIC INFRASTRUCTURE 148.


The Transitional Stabilisation Programme recognises that functional public infrastructure remains a key enabler to unlocking economic growth potential, increase competiveness and productivity, whilst equipping public services to meet demand.

149.
149.

In this regard, the Programme prioritises quick-win projects2 in energy, water and sanitation, ICT, housing and transport, with focus on expediting completion of on- going infrastructure projects, that way contributing to the revival of the economy.

2 Please refer to the attached Compendium of Infrastructure Projects 33 150.
The Transitional Stabilisation Programme, therefore, targets increasing the Budget on capital expenditures from the current 16 percent of total Budget expenditures to over 25 percent, beginning from the 2019 and 2020 fiscal Budgets.

151.

Some of the identified priority projects, to be implemented under the Programme are described hereunder.
34 PRIORITY PROJECTS Given their contribution to long term economic growth, economic enablers will be prioritised during the Programme period together with investments that improve the social well-being of citizens.

Energy Investments to maximise domestic generation capacity at the lowest social, environmental and economic cost from all sources will be pursued.

This includes upgrading the transmission infrastructure to ensure that electricity generated is delivered to consumers with minimal losses.
The Rural Electrification Fund will be strengthened to ensure empowerment of rural communities through extension of the electricity grid to rural service centres, business centres, growth points, households, schools and clinics.

• Power Generation Ø Kariba South expansion, successfully completed with a capacity of 300 MW.

Ø Hwange Unit 7 and 8 v US$1.5 billion construction project to add 600 MW to the national grid.
v Ground breaking ceremony held on 27 June 2018, marking commencement of works expected to take 42 months.

Ø Batoka Hydro-Electric Scheme v Feasibility studies, project engineering and legal assessments completed in 2016. v Principles for the US$4.5 billion project agreed on by Zambia and Zimbabwe.

v Expressions of interest received to develop the 1 600 MW Power Project along Zambezi River.

v Project will ease power shortages in Zambia and Zimbabwe, with potential to supply other regional countries.
v Batoka Project is being implemented under the auspices of the ZRA, a bi-national organisation, mandated to operate, monitor and maintain the Kariba Dam Complex as well as exploit the full potential of the Zambezi River.

v Project specifications indicate the Scheme will be undertaken on a Build, Operate and Transfer basis upstream of the Kariba Dam Hydro-electric Scheme.
v The proposed scheme includes a 181-metre-High Roller Compacted Concrete Gravity Arch Dam, Radial Gated Crest type spillway, two underground Power Stations on each side of the river with four 200 MW turbines installed in each, giving a total capacity of 1 600 MW for the Scheme.

v The Scheme is designed as a run of the river scheme.
Ø 3 Small Thermals (Harare, Munyati, Bulawayo): v Focus is on upgrading Harare and Bulawayo power plants by changing the boilers from old technology of coal powered to fluidised bed combustion boiler technology which will improve on efficiency at a cost of US$265 million.

v This investment will increase output from the current 30 MW to 90 MW for each plant.

Ø Tugwi Mukosi: v Completion of the Tugwi Mukosi Dam provides scope for a 15 MW power plant.

v Feasibility studies for the power plant completed.
v Civil works for power plant have commenced at a cost of US$9 million.

v Estimated cost for the power plant amounts to US$33 million.

Ø Other planned energy projects to be implemented through the IDBZ include the following: v Manako (Osborne) Mini Hydro Electric Power.

v Rufaro Solar Energy.

v Harava Solar Energy.

v Odzani Mini Hydro Electric Power.

v Rooftop Solar Energy (Bulawayo, Harare and Kwekwe).
• Solar 1 35 Ø Solar is an alternative source of power, particularly for rural households in off-grid areas.

Its clean and environmentally friendly source of power that also augments grid efforts to improve on access to energy supply.

Adoption of the use of renewable energy sources through installing solar street lights along all rehabilitated roads across towns.

The introduction of a solar lighting system is also a cost cutting measure.
Furthermore, increased reliance on solar energy will be boosted by local authorities’ requirements for all new housing development plans to embrace solar geysers.

v Leveraging on the Rural Electrification Fund, resources of US$50 million will be mobilised from the market in support of solar mini grid systems for targeted communities and small rural based business ventures.
• Transmission Projects Ø Zimbabwe’s transmission infrastructure, besides rehabilitation, requires upgrading in support of new generation projects, providing electricity for new settlements as well as addressing changes in demand.
Ø Targeted projects during the plan period include the following: v Alaska-Karoi 85km 132kV line, with support of US$22 million from AfDB, is currently under implementation and expected to be completed in 2020. v Atlanta-Mutoko 62km 132kV line, with support of US$13 million from AfDB, is expected to be complete in 2020. v ZIZABONA – Linking Zimbabwe, Zambia, Botswana and Namibia transmission networks at a cost of US$154 million.
The first phase of the project relates to the construction of the 101 km Hwange- Victoria Falls line, with support of US$33 million from AfDB and is expected to be complete in 2020. v US$32.8 million Emergency Power Infrastructure Rehabilitation Project under ZimFund targeting rehabilitation of transmission and distribution networks for Harare, Kwekwe, Gweru, Bulawayo and Mutare.
These projects are expected to be complete by December 2018. v US$40 million has been earmarked for national grid extension to unserved rural communities throughout the country, drawing from the Rural Electrification Fund.

v Government and the African Development Bank are also finalising on the development of the US$14 million, 45 km Tugwi-Masvingo 132 kV Transmission Line.
• Water & Sanitation Ø By 2024 all sewer should be treated before being discharged to the environment, whilst 90 percent of urban dwellers should have access to safe drinking water.

Ø City fathers must plan for the growth in urban settlements by providing basic services and affordable housing for urban dwellers.

Ø All ongoing dam projects will be completed and measures put in place to ensure all water bodies are fully utilised.
Ø The City of Harare will need to invest in new water sources from Kunzvi and Musami to supplement existing supplies.

Furthermore, an amount of US$135 million is required for additional reservoirs for Caledonia, Hatcliffe, Warren Control and Southern as well as replacement of 100 km distribution mains.

Ø Bulawayo City Council on the other hand, will prioritise water upgrades for Criterion, Rangemore, Cowdry Park as well as investments in prepaid water meters at a cost of US$83.5 million.
Ø The above is over and above the current support council is receiving from AfDB of US$34 million for the water and sewer upgrading project, under implementation which is expected to be complete by 2020.

Ø With regards to the other local authorities, an amount of US$45 million will be earmarked towards addressing current challenges facing residents in accessing reliable water and sanitation services.
Ø During the plan period, the following water projects will also be prioritised: 2 36 v Dam projects, comprising of Causeway, Gwayi-Shangani and Marovanyati will be completed by 2019 at a cost of US$194.2 million, with measures being put in place to ensure the water is fully utilised.

v Support of US$60 million will target execution of works for Chivhu, Semwa, Bindura and Tuli- Manyange dams.
v Emergency Water Supply and Sanitation Rehabilitation Project under ZimFund, targeting Harare, Ruwa, Redcliff and Chitungwiza is under implementation and expected to be complete in 2018. v Guruve, Lupane and Zimunya sewer and water upgrading works under ZIMREF are on-going and expected to be completed in 2018 at a cost of US$5.5 million.
v Through the IDBZ, Government will prioritise the completion of the Victoria Falls Municipality Water and Sanitation Project and the Chiredzi Town Council Water and Waste-Water Augmentation.

Ø Additional boreholes will be constructed countrywide, through DDF and ZINWA, to ensure that rural households also have access to safe drinking water.
• Transport & Communication Ø An efficient and adequate transport system is critical for the development of the country, providing access to markets including reducing regional disparities.

Ø The road, rail and air sub-sectors are critical in rapid industrialisation and agricultural advancement as they facilitate trade and movement of goods and people, hence, the need to rehabilitate and upgrade the current stock of assets.
Ø Roads v AfDB and World Bank studies estimate US$5.5 billion needed to rehabilitate Zimbabwe’s entire road network.

v Final take off of road projects that have been in the pipeline for over 30 years.

v Treasury funded road projects span across all projects, with Provincial Roads Engineers Departments receiving the largest funding since the turn of the Century, such that contractors are overwhelmed by work.
v Government has been rehabilitating roads and bridges destroyed by Cyclone Dineo in 2017, through the Emergency Road Fund, while new and old projects are being fast-tracked under the auspices of the Department of Roads.

v Recovery of wash-aways on major bridges targeted.
v Through the fiscus, an amount of US$252 million has already been availed to the Department of Roads for the Roads Development Programme, targeting to re-establish trafficability on all State roads and set to complete the following: Ø Roads Dualisation Mutare-Harare-Gweru-Bulawayo Dualisation v Phased approach earmarked upon, with Harare-Marondera and Harare-Selous portions in progress.

10km Karina Garage in Norton to Toll Gate almost complete by August 2018 at a cost of US$1.2 million per kilometre.
v Department of Roads working with local companies after receiving US$8 million from Government, while works on 10km project after the Norton Toll Gate has also begun.

The project currently employs about 120 causal workers, of which 55 are women.

Road designs are in place for the project up to Selous Roundabout.

v The project is wholly funded by Treasury.


A survey team is on the ground and by end of 2018, Government will have designs up to Chegutu for a higher standard road which is very durable with asphalt overlay.

For the period to December 2019, an amount of US$47.4 million will be earmarked 3 37 towards the dualisation up to chainage 73+700 to Bromley and up to chainage 68+200 along Harare-Gweru road.
Beitbridge-Harare-Chirundu Dualisation v A new contractor from China, is being engaged for the dualisation of the Harare-Beitbridge and Harare-Chirundu highways after failure by Geiger International to achieve financial close.

v Meanwhile implementation of works for the improvement of steep gradients around the Makuti Escapement on the Makuti – Chirundu section will benefit from the US$21 million grant extended by Japan.
This should reduce the final cost of rehabilitating the Harare-Chirundu section of the North-South corridor.

The grant agreement with Japan was signed on June 19 2018.

This targets upgrading 6.5km through provision of overtaking lanes between Marongora – Hells Gate on the Chirundu–Makuti highway.
Ø Roads Development Programme v A comprehensive Roads Development Programme, with support from the fiscus, and targeting upgrades from gravel to bituminous surfacing is already underway at an average cost of US$500 000 per kilometre.

The target is to complete 20km for each road every year until completion.
v The targeted roads, being implemented under the Department of Roads Provincial Road Engineers in each province, estimated to cost US$542 million, are as follows: ü Matebeleland South Provincial Roads - Gwanda-Maphisa, Maphisa-Mpoengs, Gwanda-Guyu- Manama-Tuli.

ü Matebeleland North – Dete-Binga Road and Binga-Karoi Road.

ü Midlands – Mberengwa-West Nicholson, Gokwe-Siyabuwa, Kwekwe-Nkayi, Mberengwa- Mataga, Jeka Bridge, Kwekwe-Gokwe and Kawonga Shelvert.
ü Mashonaland East - Hwedza-Sadza, Mushandirapamwe-Hwedza, Beatrice-Mubaira, Zaire- Chingondo ü Mashonaland Central - Guruve-Kanyemba, Mt Darwin-Mukumbura.

ü Mashonaland West - Golden Valley-Sanyati, Skyline-Mubaira-Chegutu, Alaska-Copper Queen, Kirkman Road.

ü Masvingo - Kapota-Zimuto, Chilonga Bridge, Gutu-Buhera, Mhandamahwe-Chivi-Tokwe, Rutenga-Zvishavane, Chartsworth-Gutu, Rutenga-Boli-Chicualacuala.
ü Manicaland - Ngundu-Tanganda, Nyamangura Bridge, Murambinda-Birchnough, Nyanga- Ruwangwe, Odzi – Marange-Zviripiri.

ü Matebeleland North - Bulawayo-Nkayi, Bulawayo-Tsholotsho, Ingwingwisi bridge.
v With regards to DDF, Treasury has already disbursed US$11.2 million towards re-gravelling of feeder roads and bridge construction countrywide, with an additional US$15 million being targeted for 2019. v In addition, IDBZ has been involved in the monitoring of the Emergency Roads Rehabilitation Programme by Government that covered 8 Provinces where it facilitated the disbursement of US$24.1 million.
Some of the roads monitored include the Harare-Mutare Road dualisation (5.5. km), Goromonzi Turnoff-Tollgate, Bindura-Shamva (4.4 km), Harare-Bulawayo Road dualisation (9 km), and Norton Turnoff-Tollgate.

v In collaboration with relevant authorities, IDBZ is planning to get involved in the preparation and construction of the Chitungwiza-Harare Rail link and play an advisory role on the following road expansion projects: ü Harare-Nyamapanda.

ü Bulawayo-Victoria Falls.

ü Mutare-Christmas Pass.


ü Kwekwe-Silobela-Nkayi-Lupane.

ü New Victoria Falls Bridge.

Ø ZINARA 4 38 v Lessons will be drawn from construction and rehabilitation of 823 km highway from Plumtree to Mutare through ZINARA’s Special Purpose Vehicle, Infralink Private Limited, jointly owned by ZINARA and Group 5, with a shareholding of 70 and 30 percent, respectively.
v Plans to construct and rehabilitate the country’s road infrastructure to assist kick start economic activity are already underway with the Emergency Road Rehabilitation Programme having created 534 jobs in Matebeleland South alone.

v Through the ZINARA Infrastructure Bond, US$400 million will be raised in 2018 and 2019 from the market in support of the Emergency Road Rehabilitation Programme and hot spots rehabilitation.
v Targeted roads through the Road Fund include the following: ü In Bulawayo, City Council is in the process of refurbishing major and artery roads through surfacing, pothole filling, resealing and reconstruction, among other projects and the target is to cover the entire network of 2 100 km at a cost of US$750 million.

ü In Harare, an amount of US$1.2 billion will be needed to rehabilitate the 4 500 km network as well as expand and construct interchanges at major intersections along Harare Drive.
ü For the 32 urban councils, the Road Fund is availing US$44 million for routine and periodic maintenance during 2018. ü The 60 RDCs will receive US$32.5 million for grading and re-gravelling of rural roads.

ü The Department of Roads and DDF will receive US$40 million and US$25 million respectively, for routine and periodic maintenance as well as bridge repairs.

ü Support will also be made to DDF for procurement of road equipment amounting to US$8.3 million.
Ø AIRPORTS v Under the Plan, the upgrading of the R. G. Mugabe International Airport will be pursued at a cost of US$153 million which entails upgrading of the runway, construction of new terminal building, additional four aero-bridges, and communication system, among others.

v Furthermore, procurement of five weather radar systems, to be networked around the country, at a cost of about US$6.5 million will be prioritised.
Ø RAIL v The recapitalisation of NRZ has commenced with the injection of US$400 million in capital under a joint venture which will enable the parastatal to refurbish existing rolling stock and track infrastructure, including procurement of new assets.

• Environmental Protection and Reclamation Ø Reclamation of Gokwe Centre gully now complete.
Gokwe Town, including the DAs Office, the new Court Building, Police Station and civil servants’ residences were on the brink of collapse due to a gully which was eating its way towards the Town Centre.

Ø Reclamation of small-scale miners’ degradation, including de-siltation of waterways and scooping of dams.
Ø The Environmental Management Agency is investing in the latest chemical monitoring technology following an influx of imported chemicals in the country and a rise in chemical spillages, especially on the country’s highways, which is posing health risks to communities and the environment.

The management of chemicals in Zimbabwe was presenting great challenges given that the quality and quantity of chemicals being imported is on the increase.
Zimbabwe, being a transit corridor, implies that the volume of chemicals transiting through Zimbabwe requires improved emergency response mechanisms.

Need for environmentally sound management of hazardous and other waste.

Ø Veld fires – these threaten the environment, with potential to also destroy late planted crops, hence, the need for the relevant stakeholders to broaden preventive measures.
Ø Artisanal Miners and the Environment – The rise in artisanal and small-scale gold mining is seeing increased use of mercury in gold processing, with several environmental contamination contributing 5 39 to serious health and ecological impacts.

Mercury is a persistent, highly toxic heavy metal whose continued inhalation can cause death.
Research by UNIDO conducted between 2007 and 2012 estimated artisanal and small-scale miners in Zimbabwe, and mostly from vulnerable backgrounds, at over 500 000 with the number expected to have increased over the years.

Concerns on the negative impacts of mercury gave rise to the promulgation of the Minamata Convention on Mercury of October 2013, an International Treaty designed to protect human health and the environment from human induced emissions and releases of mercury and its compounds.
Zimbabwe is one of the 128 countries which signed the Convention and is working towards ratification.

The Convention aims at managing use of mercury in an efficient, effective and coherent manner, while member states work towards its total elimination.

The Convention recognises the need for the development of sustainable technologies to extract gold in preparation for the restrictions that will be imposed on trade in mercury.
Once ratified, it will provide direction on development of national legislation to tackle control of use and influx of mercury.

Toxic mercury vapour impacts negatively on miners and their families and nearby communities.

Most gold mining activities are carried out in rivers and streams which drain into dams and lakes, contaminating water which accumulates in sediments and bio-accumulates in fish and tissues in other aquatic species.
Once present in aquatic ecosystems, elemental and inorganic mercury can undergo transformations to methylated mercury species and enter the food web and highly level predators such as birds, water mammals and humans will be in danger of contamination.

EMA conducts awareness programmes on artisanal miners and other stakeholders, in all the 10 Provinces on the dangers associated with the use of mercury.

Small-scale gold mining is one of the major release source of mercury in Zimbabwe.
It is estimated that the sector is responsible for the release of over 1 600 tons of mercury per year to the air and on the land.

• Health Ø Health infrastructure will be upgraded to enable provision of comprehensive health services and re- establishment of the referral system.

Access will be enhanced through construction of additional facilities especially in new resettlement areas as well as those areas where current facilities are failing to meet demand.
v Construction of 63 Rural Health Posts, covering a staff house and basic equipment for primary care at a cost of US$4.4 million.

The target is to construct 6 602 throughout the country that will provide the first line of defence in disease prevention and treatment.

v Commencement of works for the construction of two District hospitals for both Harare and Bulawayo at a cost of US$240 million.
v Rehabilitation and upgrading of infrastructure at provincial hospitals will also be prioritised including the construction of Lupane Provincial Hospital which is expected to commence in 2019. v Through the IDBZ and in the health sector, plans are advanced to roll out medical staff accommodation (on-site) across the country and academic and medical staff accommodation.
• Education Ø Government will ensure the achievements of the sector are maintained and broaden access by investing in the upgrading of infrastructure and additional new facilities.

v Construction of 17 primary and secondary schools, funded through OFID is on-going at a cost of US$21 million and are expected to be complete by end of 2018. v Feasibility studies for 100 schools underway, with resources being mobilised through joint ventures.
v Construction of innovation hubs at six state universities currently underway with the scope being broadened to cover other universities.

The Midlands State University’s innovation hub was commissioned in June 2018. v Development of infrastructure at new state universities will also be prioritised.

v Construction of accommodation, teaching and learning facilities will be implemented, complemented by private sector funding through joint ventures.
6 40 • Housing Ø Provision of housing stands and the requisite social amenities will be prioritised to address the housing backlog.

All outstanding institutional accommodation projects that had stalled due to the economic challenges of the past decade will also be completed.

v Through the Infrastructure Development Bank, UDCORP and NSSA, Government will mobilise funding from the market towards the servicing of stands and construction of houses countrywide.
Some of the projects already underway include the following: ü IDBZ- Sumbem (370 low density stands in Mt Pleasant Harare), Empumalanga West (2 135 high density stands in Bulawayo), Kariba (1 560 high, medium and low density stands), Clipsham II (600 medium and low density stands), Gwanda (1 000 high density stands), Chiredzi (1 800 mixed density stands), Nemamwa (222 medium density stands), Makonde (197 mixed density stands) and Dzivarasekwa phase 2 (737 high density stands).
Through on- going land acquisitions, IDBZ plans to develop housing schemes and accommodation for students, academic and medical staff in towns such as Zvishavane, Marondera, Harare, Masvingo, Plumtree, Lupane, Bulawayo, Gwanda, Chegutu, and Kadoma, among others.
ü NSSA- Dzivarasekwa (600 houses), Newmara (400 houses), Knochmallock (267 houses), Stoneridge (200 houses), Batanai Lot A (360 houses), Batanai Lot B (363 houses), Glaudina Apartments (288 flats), Glaudina Merwede (100 houses) and Hopeville (71 houses).
ü UDCORP- Hatcliff (6 000 stands), Shirt, in Bulawayo (50 stands of 2 000m2 each), Caledonia (29 000 stands), Dunottar (10 000 stands), Glenview (Construction of 4 storey flats each with 8 apartments), Manresa (Development of 320 flats in Tafara), Chirundu, Umvutcha, Gimboki and Retreat.

v The Financial Sector, particularly building societies are also implementing various housing development programmes through provision of housing stands in most urban settlements.
v With regards to institutional accommodation, all projects that had stalled due to the economic challenges of the past decade will be completed, particularly the following: ü Courts – Chinhoyi, Gwanda and Marondera provincial magistrates’ courts, at a cost of US$23.1 million ü Composite offices – Lupane, Mutoko, Wedza, Siakobvu, Mhondoro and Mbire at a total cost of US$21.3 million.
ü Institutional housing – Lupane Civil Servants houses, Zimbabwe Prisons staff houses, Dzivarasekwa houses, Immigration and ZIMRA staff houses as well as staff houses for Mahusekwa, Mpilo and Tsholotsho hospitals, at a cost of 12.2 million ü New Parliament building – to be constructed through a grant from the People’s Republic of China at an estimated cost of US$145 million.
ü Construction of Lupane provincial hospital, Mbuya Maswa clinic in Zaka, Chiromo clinic in Gokwe and rehabilitation and upgrading works for the four central hospitals.

• ICT Ø Digital technology has drastically changed our everyday life and business processes, providing opportunities for countries to leapfrog decades of under-development and catch up with the rest of the world.
Ø Government will invest in digital infrastructure that connects all major economic centres with fibre optic to improve access to key services and markets to citizens, whilst the E-Government programme will be expanded to cover other public services in order to bring more convenience to the public.
Ø The Zimbabwe Digital Broadcasting Migration Project, under implementation at a cost of US$173 million, has so far received US$64 million which has allowed for the completion of two digital television studios and 18 transmitter sites among others.

The balance of US$109 million will target digitalisation of the remaining 30 transmission sites, 4 television studios, 11 radio studios, 6 content production facilities and 7 outside broadcasting vans among others.
7 41 Ø Consistent with Vision 2030, Government is intensifying efforts to bring internet connectivity to every household countrywide.

Ø This will also facilitate development of community information centres across the country, with 250 centres already set up.

Ø To complement Government efforts, the IDBZ is involved in ICT through exploring the domain of fibre optic backbone and distribution infrastructure.
In addition, the Bank is exploring to finance the roll out of dedicated ICT infrastructure to facilitate inter-connectivity among institutions of higher learning across the country.

Ø The Bank is scanning for investment opportunities in the roll-out of wireless broadband network across Zimbabwe under PPPs.

This programme is expected to deliver efficient communication systems at lower cost to the economy, consistent with the country’s development thrust.
• Irrigation Development Ø Vision 2030 recognises that limited irrigation infrastructure facilities increase vulnerability of agriculture to drought and, hence, compromise all other interventions such as financing and technical support.

Ø To date, the country has 210 000 hectares of developed irrigation of which 175 000 hectares are operational.

Ø The existing Irrigation Master Plan targets support for the eventual rehabilitation and establishment of irrigation facilities to cover 2.5 million hectares.
Ø The target is, therefore, to add 200 hectares per Administrative District per year over the Vision 2030 period of 12 years, and this requires forging partnerships with external partners.

Ø This will boost production across the country’s vast arable and under-utilised tracts of land, drawing from several dams whose waters remain idle.

Ø As a result, critical areas for investment are in irrigation and mechanisation equipment, fertilizer and other inputs production, among others.
Ø Targeted irrigation schemes are: v Nyanje Irrigation Scheme rehabilitation idle for over a decade in Gokwe, set to benefit over 1 000 farmers in Kana, Sessame, Manoti, Nkayi, Silobela and Zhombe, among others.

v Nyakomba Irrigation Scheme with support from JICA, set to benefit 570 hectares in Nyanga.

v The Zhove Irrigation Project with support of US$37 million from Kuwait Fund to benefit 2 600 households in Beitbridge at an average of 1ha per household.
v Small-holder Irrigation Support Programme with support of US$52 million from IFAD, OFID and Government to benefit 12 200 households in Manicaland, Midlands, Masvingo and Matabeleland South.

v Tugwi Mukosi Irrigation scheme, which is still at feasibility study stage, targets 25 000 hectares in the Chivi and Masvingo districts at an estimated cost of US$150 million.

v Muzwi Irrigation Scheme, targeting 800 hectares in Masvingo District is at feasibility study stage at an estimated cost of US$5 million.
v Osborne Irrigation Scheme, targeting 5 000 hectares in Mutasa District is at feasibility study stage at an estimated cost of US$70 million.

v Biri Irrigation Scheme, targeting 2 000 hectares in Chegutu District is at feasibility study stage at an estimated cost of US$8 million.

v Lilstock Irrigation Scheme, targeting 2 000 hectares in Bindura District is at feasibility study stage at an estimated cost of US$12 million.
v DDF small irrigation schemes, distributed across the country will be implemented at a cost of US$15 million.

Ø The African Development Bank will also be supporting data collection enhancement for effective water-related disaster management to the tune of €387 628.

The Grant will finance procurement and construction of hydrological systems, weather stations, rainfall sensors, water pump and information technology equipment, as well as consulting services.

8 42 152.
8 42 152.

Our re-engagement efforts will also target support from Development Partners, particularly for projects that improve the well-being of citizens, including encouraging of blending Grants from Development Partners with interest bearing instruments to promote infrastructure development.

PART VI: HUMAN DEVELOPMENT 153.

This Section contains policy measures to enhance social service delivery, particularly targeting provision of education delivery, health services, and social protection.
Education Delivery 154.

The Transitional Stabilisation Programme recognises that investment in education is a key poverty reduction strategy, as well as a vehicle for producing a skilled and capable workforce which will greatly assist in our agenda of pushing the frontiers of production.

155.

In this regard, the Programme strives to ensure access to education for all.

156.
156.

This will include providing adequate infrastructure, as well as opportunities for Non- Formal Education; early identification of children at risk of not entering the education system, dropping out or falling behind, and strategies to support those unable to meet fee and levy charges.

157.
157.

The Transitional Stabilisation Programme will prioritise the production of additional human capital at local Polytechnics, Teachers Colleges and State Universities, through the rehabilitation and expansion of existing tertiary institutions.

158.

In addition, Zimbabwe’s educational system will be made relevant to the skills demands of the economy and markets.

43 Health Provision 159.


In the health sector, the Programme targets incremental investments to achieve equitable coverage and enhanced quality of health delivery, to address the following critical challenges: • Sub-standard quality of maternal health services, such as ante-natal care, delivery, and post-natal care, including prevention of mother-to-child transmission of HIV, and sexually transmitted infections.

• Medicine shortages, as well as family planning, and other essential drugs.
• Inadequacy of emergency transport and communication systems, which have a bearing on mortality rates.

• A growing burden of non-communicable diseases, due to sub-optimal dietary habits, lifestyle, and poor health services.

• Inadequate mitigation of environmental pollution, poor water, sanitation, and hygiene (WASH) infrastructure, nutrition and food security issues, which continue to affect the health status of citizens.
• Strengthening of the Health and Management Information System at the facility level.

160.

The Transitional Stabilisation Programme also targets overcoming recurrence of seasonal and periodic outbreaks of public health challenges related to communicable diseases that the New Dispensation’s Vision 2030 targets to eradicate.

Empowerment 161.
Empowerment 161.

The Transitional Stabilisation Programme will be enhancing gender mainstreaming in all sectors of the economy in order to eliminate all negative economic, social and cultural practices that impede equality of sexes.

44 162.

Hence, Government will prioritise initiatives targeted at young people and women, to achieve a more inclusive and sustainable economic growth and reduce poverty in a sustainable and permanent manner.

163.
163.

Furthermore, the Programme also contains tailor made interventions targeted at people facing physical challenges, as well as further foster integration of gender mainstreaming across all sectors, cognisant of Gender Equality as fundamental to achieving equitable, sustainable and inclusive socio-economic development.

PART VII: GOVERNANCE REFORMS 164.


The Transitional Stabilisation Programme measures to underpin economic reforms, broad based Citizenry participation in national and socio-economic development programmes, and re-engagement with the global community will be complemented by governance reforms ushered in by the New Dispensation from November 2017.

165.

These entail: • Rule of Law.

• Political Governance and Democratisation.

• Respect for Human and Property Rights.


• National Unity, Peace and Reconciliation.

• Tolerance, Freedoms of Expression and Association.

166.

In support of this thrust, Government will continue to work with Civil Society and International Organisations, and also maintain open channels for dialogue to ensure that governance concerns are adequately and timeously addressed.

167.
167.

The Transitional Stabilisation Programme will also give impetus to the New Dispensation initiatives to improve access to justice for the citizenry, including women and other vulnerable groups.

45 PART VIII: IMPLEMENTATION, MONITORING & EVALUATION 168.

The implementation, monitoring and evaluation of this Transitional Stabilisation Programme will involve the participation of all key stakeholders, embracing Government, Business, Labour, Civil Society, Academia, Development Partners, and Communities.
169.

The existence of a high level results framework and associated indicators for tracking the performance of the Transitional Stabilisation Programme against clear baselines and targets will be central for success.

Implementation, Monitoring & Evaluation Framework 170.

The implementation, monitoring and evaluation of this Transitional Stabilisation Programme will involve the participation of all key stakeholders3.

171.
171.

The Programme will adopt the Results Based Management approach, using the 100 Days Rapid Results Initiative (RRI) methodology.

172.

In this regard, RRI training programmes, which have been targeting implementing line Ministries and State Owned Enterprises, will be continued.

173.

From this time around, Local Authorities will also be brought on board.

174.
174.

The performance targets and benchmarks for the Transitional Stabilisation Programme will be set for various implementing entities, with a strict monitoring and evaluation framework developed.

3 Please refer to Annexure 2 46 High Level Results Framework 175.

The formulation of a high level results framework and associated indicators for tracking the performance of the Transitional Stabilisation Programme against clear baselines and targets will be central for success.

176.
176.

Accordingly, a Comprehensive Matrix of Policies, Projects and Programmes4 to be undertaken, as well as the attendant results to be achieved over the Programme period will be developed.

Steering Committee 177.

In order to monitor movement towards devolution, a Steering Committee coordinated and administered by the Office of the President and Cabinet, will benchmark all services so that funds can be applied equitably across Provinces, and that communities are not left behind.

178.
178.

Oversight will be undertaken through co-chairs of the Focal Areas, and chaired by the Chief Secretary to the President and Cabinet, and will meet on a quarterly basis.

Technical Committee 179.

The Ministry of Finance and Economic Development will coordinate the implementation of the Transitional Stabilisation Programme by line Ministries through the Technical Committee which will include co-chairs and focal persons from line Ministries.

Programme Oversight 180.


Cabinet, through Cabinet Committees and Parliament, through Parliamentary Portfolio Committees will also periodically review the progress of the implementation of the Transitional Stabilisation Programme.

4 The Section on Implementation Matrices contains the preliminary Matrix of Policies, Projects and Programmes 47 181.
These monitoring arrangements will also allow opportunity for prompt tracking of implementation, and institution of corrective measures to keep the Programme on course, also using the Presidential Electronic Dashboard.

CONCLUSION 182.
CONCLUSION 182.

Sustained and consistent implementation of the above Transitional Stabilisation Programme measures represents Government’s commitment towards realisation of the aspirations of Zimbabwe’s Vision 2030: “Towards a Prosperous and Empowered Upper Middle Income Society with Job Opportunities and High Quality of Life for its Citizens”.
End MINISTRY OF FINANCE & ECONOMIC DEVELOPMENT 48 ANNEXURES Annexure 1: Trends in Per Capita GDP Nominal GDP (US$ m) Population (million) Inflation (%) GDP Growth (%) - Source: Ministry of Finance, Reserve Bank, ZIMSTAT GDP Nominal Per Capita (US$ m) Annexure 2: Programme Implementation Architecture Annexure 2: Programme Implementation Architecture PARLIAMENT CABINET STEERING COMMITTEE Chair – Chief Secretary OPC Members: co-chairs for focal areas Meetings – Quarterly TECHNICAL COMMITTEE Chair – Ministry of Finance and Economic Development Members: co-chairs for focal areas, focal persons from Line-Ministries Meetings –monthly LINE MINISTRY FOCAL AREAS Co-Chaired – line- Ministry and Private Sector or Civic Organisation Members: line- Head of Ministries, Ministries focal persons, representatives from private sector, academia, labour, development partners and civic organisations.
FOCAL AREAS AT PROVINCIAL AND DISTRICT LEVEL Co-Chaired – line- Ministry and Private Sector or Civic Organisation Members: Line-Ministries, representatives from private sector, academia, labour, development partners and civic organisations.
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