2016 Budget Strategy Paper

INTRODUCTION

The 2016 Pre-Budget Strategy Paper (BSP) is meant to facilitate stakeholders’ participation and debate on budgetary and macro-economic policy issues for the forthcoming 2016 National Budget.

2. The objective is to build consensus on specific issues to be addressed under the Budget.

3. These priority issues are modelled around the following four Zim Asset clusters and two sub-clusters, namely:
- Food Security and Nutrition;
- Value Addition and Beneficiation;
- Social Services and Poverty Eradication;
- Infrastructure and Utilities;
- Fiscal Reform Measures; and
- Public Administration, Governance and Performance Management.

4. Furthermore, in line with the Zim Asset clusters, His Excellency, The President, unveiled a Ten Point Plan, during His State of the Nation Address at the joint seating of the National Assembly and Senate on 25 August 2015.

5. The Plan buttresses and further advances Zim-Asset’s objectives of achieving sustainable and inclusive economic growth, in particular the creation of jobs and its key facets are as follows:
- Revitalising agriculture and the agro-processing value chain;
-  Advancing Beneficiation and/or Value Addition to our agricultural and mining resource endowment;
-  Focusing on infrastructure development, particularly in the key Energy, Water, Transport and ICTs subsectors;
-  Unlocking the potential of Small to Medium Enterprises;
-  Encouraging Private Sector Investment;
-  Restoration and building of confidence and stability in the financial services sector;
-  Promoting joint ventures and public private partnerships to boost the role and performance of state owned companies;
-  Modernising Labour Laws;
-  Pursuing an Anti-Corruption Thrust; and
-  Implementation of Special Economic Zones to provide the impetus for foreign direct investment.

6. In addition, debate on the forthcoming National Budget will also draw from the recently announced 2015 Mid-Year Fiscal Policy Review Statement, with the objective carrying forward the unfinished agenda into 2016.

7. In facilitating the debate on the priority issues, the 2016 Pre-Budget Strategy Paper provides an overview of the economy and outlook projections up to 2018, reflecting the economy’s potential capacity as well as downside risks.

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