Minister of Youth, Indigenisation and Economic Empowerment, Patrick Zhuwao has claimed that Zimbabwe’s economy is not bad and on a recovery path.
Zhuwao was speaking to journalists after meeting entrepreneurs and youth officers in Harare on Wednesday where he said contrary to beliefs, Zimbabwe’s economy is on a steady growth and government will continue to come up with strategies that benefit youths while developing the economy.
He said the only economy that is dying is the Rhodesian based economy which the country adopted when it got its independence in 1980.
Said Zhuwao “The economy is not bad, it’s actually at a nascent stage. One of the things we have to do is recognise that we now have a country called Zimbabwe and a nation called Zimbabwe.
“What was previously regarded as the economy is actually the Rhodesian economy that was built on the trunk of the nation state of Rhodesia which has since seized to exist.”
Zhuwao added that the Rhodesian based economy is collapsing and dying because it does not have roots within which to fit in the Mugabe led government’s economic policies.
According to Zhuwao, the tobacco sector has been the major beneficiary of the numerous government policies since 1980, with tobacco farmers rising from 2000 soon after independence to the current 70 000.
His remarks come barely two weeks after President Robert Mugabe made rejected the assertion that Zimbabwe is a fragile state. Addressing the World Economic Forum, Mugabe said Zimbabwe was the second most developed country in Africa, behind South Africa.
Zimbabwe’s economy has been on its knees since the turn of the millennium when the Zanu PF led government embarked on a land distribution exercise.
It is estimated that more than 87% of Zimbabweans are unemployed due to an under-performing economy that resulted in the closure of industries while scaring away investors.