The leader of the Alliance for People’s Agenda (APA) and Presidential election candidate, Dr Nkosana Moyo has pledged to solve the country’s liquidity crisis in 24 months should he be elected the President of Zimbabwe in July 30 Presidential elections.
APA launched its election manifesto dubbed “ Rehabilitate Zimbabwe” which seeks to address economic problems facing Zimbabwe in three phases namely, short term plan for 24 months, mid-term plan for 60 months and lastly 120 months.
According to the APA document, Zimbabwe’s liquidity problems will be high on the priority list as well as reduction of the country’s wage bill which he hopes to reduce to 35 percent from the current 80.
“Subject to the procurement of a national consensus through public discussion, the government’s wage bill be reduced to the lower of 35 percent of government revenues or 8 percent of Zimbabwe’s GDP. In effecting this reduction, an equitable principle will be applied whereby the reduction burden will be borne by those most capable of bearing that burden,” reads APA manifesto.
Moyo also seeks to restore trust and confidence in banking institutions having made observation that since 2012 more than six banks have closed leading to accumulated losses of millions of dollars.
“Couple this to the unpredictable monetary policies to the ZANU PF government and it is easy to understand the reluctance of people to bank their savings. This negatively affects liquidity and consequently the ability to grow the economy,” reads part of the manifesto.
The APA government further aim to kick start the process of expanding tax base by involving individuals and business operating in the informal economy in a bid to make the private sector competitive.
“Our goal is to have every working person and each business pay a minimum amount of tax of their identifiable income. Once it becomes clear that Zimbabwe’s government has become a creator of savings rather than a consumer of savings, then Zimbabwe ‘s government bond yield curve should be lengthened,” further reads the APA manifesto.
Moyo also committed to embark on a global re engagement process to attract foreign direct investment with an eye on international community debt relief settlements.
“APA will conduct and conclude negotiations with multilateral institutions like the World Bank and the African Development Bank and the negotiations with the Paris Club of Creditors.
Costa Nkomo 302 posts 0 comments