The Minister of Finance, Economic Development and Investment Promotion , Professor Mthuli Ncube has set his eyes on ending inflation in the country to enhance development.
Addressing journalists from the World Bank spring meeting in Marakesh, Morocco yesterday, Professor Ncube said inflation is dragging the development of the country, so key policy areas are being discussed to end it.
“We will make every effort to ensure that inflation does not take down the progress we want. We will also ensure that there is exchange rate stability in our countries.
“We have discussed key policy areas as Ministers of Finance in Africa and we will deal with inflation,” said Professor Ncube.
He also hailed the World Bank for hosting the spring meeting in Africa for the first time after 50 years. The meeting offers an opportunity for African countries to discuss their developmental challenges and showcase their progress to the international community .
“This is the first time the World Bank meeting is being held on African soil. The board of governance of the IMF will be having statutory meetings to take care of issues affecting the institutions in terms of governance. “Global growth for 2023 is at 3% and the growth for US, France, Japan and the UK has been revised upwards,” he said.
The Minister also encouraged farmers to conserve water and make use of the Pfumvudza farming scheme as the country faces an impending drought which will be induced by climate change.
“Our Farmers need to invest in irrigation and Pfumvudza. These are the programs we will take to mitigate climate change,” he said.