1. PROPOSED NATIONAL DEVELOPMENT STRATEGY: 2021-2025
Cabinet considered and approved the National Development Strategy 1: 2021-2025, which was presented by the Minister of Finance and Economic Development. The National Development Strategy 1: 2021-2025 (NDS 1) is the Second Republic’s first of two 5-year Medium-Term Plans aimed at realising the country’s Vision 2030. The two plans will, therefore, run under the theme “Towards a Prosperous and Empowered Upper Middle Income Society by 2030”.
The National Development Strategy 1 outlines the policies, legal and institutional reforms, programmes and projects for identified National Priorities that will be implemented over the Strategy’s five-year lifespan. This will help to achieve accelerated, high, inclusive, broad-based and sustainable economic growth and development. The NDS was a result of an extensive and structured consultative process involving stakeholders. The Strategy succeeds the Transitional Stabilisation Programme (TSP): 2018-2020, which focused on, inter-alia, stabilising the macro-economy and the financial sector, and thus laid the foundation required for economic growth. The report on the TSP will be published at the end of the programme period.
NDS 1 will therefore build on the successes and challenges of the Transitional Stabilisation Programme and aim to steer the economy onto a growth path with an average growth rate of 5% per annum over the Strategy Period.