| The major highlights
of the monetary statement was the emphasis on
Zimbabwe positioning herself for the 2010 Soccer
World Cup in South Africa. The Governor identified
tourism as one of the strategic sectors with potential
to turn around the economy. As a way of participating
in the 2010 games, he alluded to the Government
to urgently establish a Tourism Revolving Fund
to revive the sector. The fund will support not
only new entrants into the tourism sector, but
also existing enterprises that require upgrading
and refurbishment.
In his personal remarks Dr Gono promised to provide
Z$10 Billion to the tourism sector.
 |
| SMEs
will manufacture scotch-carts |
|
The
Governor also cemented the role of Small
to Medium Enterprises (SMEs) in the
revival of the economy. In his Agricultural
Mechanisation Programme, he emphasised
the need to 'go back to the basics'
like using ox-drawn ploughs, planters,
harrows and scotch-carts. The manufacture
of scotch-carts will be subcontracted
to SMEs at various growth points and
other welding points. |
|
He reiterated that the official exchange rate
of Z$250/US$ shall remain as is for all transactions.
There is and shall be no devaluation of the dollar
until he says so!
It was a major milestone for the City of Bulawayo
to host the monetary policy statement delivery
which emphasised on tourism revival, communal
agriculture, SMEs promotion, mining, tobacco growing,
gold and diamond mining. |