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Saturday, June 3, 2023

Domestic resource mobilisation to anchor economic development

Article by Davison Vandira

ECONOMIC analysts say the current macroeconomic stability and enhanced capacity of domestic resource mobilisation are set to drive the economy to the targeted levels in 2023 and beyond toward the attainment of vision 2030.

The economy has registered increased capacity in domestic resource mobilisation through various ways including the capital markets.

Economic analysts are confident the country’s financial sector which remains in a safe and sound condition will be able to underwrite the internal resource mobilisation drive which will provide significant economic activities to sustain the envisaged growth trajectory.

“Capital formation is the backbone of any economy and it becomes sweeter when its domestic resources are driving the development trajectory because it brings sustainability to the equation,” said Kudakwashe Mugova investment analyst.

“The country is witnessing decreased rate of capital flight because from the government to the private sector there is the utilisation of domestic resources which helps in creating value for every dollar that is generated locally and this is a positive development,” said Titus Mukove a development economist.

Economists have buttressed the economic significance for Zimbabwe to continue creating alternative stable financial instruments that generate more economic value to support the development path require to attain vision 2030.

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