{"id":47436,"date":"2021-09-30T19:11:35","date_gmt":"2021-09-30T17:11:35","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nds1-infrastructure-target-up-in-smoke-amid-us34-billion-deficit"},"modified":"2021-09-30T19:10:54","modified_gmt":"2021-09-30T17:10:54","slug":"nds1-infrastructure-target-up-in-smoke-amid-us34-billion-deficit","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/nds1-infrastructure-target-up-in-smoke-amid-us34-billion-deficit","title":{"rendered":"NDS1 Infrastructure Target Up In Smoke Amid US$34 Billion Deficit"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>Alois Vinga<\/b> – NATIONAL Development Strategy 1 (NDS1) targets to revamp infrastructure development may not see the light of the day without a financing strategy to close the current US$34 billion deficit, top academic Doctor Tawanda Zinyama has warned.<\/p>\n

The economic blueprint envisages to construct around 3 000 schools , undertake massive dams rehabilitation and expansion in critical areas mainly targeting key sectors of energy , transport , water and sanitation, ICT infrastructure.<\/p>\n

The broad strategy will see targeted projects and programs include renewable energy policy, clean energy access, rural electrification program underpinned by expanded rural electrification and electricity end-use, fuel supply to meet regional standards.<\/p>\n

But speaking to NewZimbabwe.com Business on the sidelines of the Zimbabwe Multi-Stakeholder Debt Conference, Zinyama said unless the treasury pursues another strategy, the plans will remain a pipedream.<\/p>\n

\u201cThe country urgently requires US$34 billion to meet its broader infrastructure needs and in the absence of a fundraising strategy. There is an urgent need for a comprehensive and effective legal system, adequate protection of property and creditor rights as provided for in section 72(3) of Constitution of Zimbabwe,\u201d he said.<\/p>\n

The top academic\u2019s findings are more than the figure of US$14 billion which were declared by the government almost two years ago.<\/p>\n

Zinyama said the top academic slammed lack of capacity infrastructure performance and updated feasibility studies.<\/p>\n

He said Zimbabwe needs a well -resourced Project Preparation and Development Fund if these targets are to see the light of the day.<\/p>\n

Economist Doctor Prosper Chitambara described the situation as a \u201cbig challenge\u201d which the government alone is not in a position to fulfill on its own.<\/p>\n

\u201cThere is a need to bring on board the private sector, diaspora community and robust mobilization of internal resources. In the long-term tax authorities need to revamp leakages as well as restructuring public spending,\u201d he said.<\/p>\n

He said there is a need to eliminate non-productive expenditure like reducing the size of parliament among other measures.<\/p>\n

\u201cTo achieve these targets there is a need to attract Foreign Direct Investment from friendly countries like China,\u201d he added.<\/p>\n

Analyst at Ethos Capital Partners, Yona Menon said if the macroeconomic conditions do not significantly deteriorate during the period some significant progress can be made by the government.<\/p>\n

\u201cI\u2019m skeptical if the government can meet all of the infrastructure needs without some private investment complementing the efforts,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Alois Vinga – NATIONAL Development Strategy 1 (NDS1) targets to revamp infrastructure development may not see the light of the day without a financing strategy to close the current US$34 billion deficit, top academic Doctor Tawanda Zinyama has warned. The economic blueprint envisages to construct around 3 000 schools , undertake massive […]<\/p>\n","protected":false},"author":84,"featured_media":47435,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,19],"class_list":{"0":"post-47436","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-zimbabwe"},"yoast_head":"\nNDS1 Infrastructure Target Up In Smoke Amid US$34 Billion Deficit - zimbabwe<\/title>\n<meta name=\"description\" content=\"Alois Vinga - NATIONAL Development Strategy 1 (NDS1) targets to revamp infrastructure development may not see the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nds1-infrastructure-target-up-in-smoke-amid-us34-billion-deficit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NDS1 Infrastructure Target Up In Smoke Amid US$34 Billion Deficit\" \/>\n<meta property=\"og:description\" content=\"Alois Vinga - 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