Please note that the UNABRIDGED version of this Programme can be downloaded here.
TRANSITIONAL STABILISATION PROGRAMME
REFORMS AGENDA
October 2018 – December 2020
“Towards a Prosperous & Empowered Upper Middle Income
Society by 2030”
Transitional Stabilisation Programme Objectives
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.
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
4
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
