The Economy

The remarkable socio-economic progress registered has been the direct result of the economic policies pursued in the past. In the next five years NRM will maintain and consolidate implementation of the above policies by undertaking the following:

i) increase Economic Growth to more than 10% per annum through targeted measures to stimulate increased productivity and production in agriculture, industry and services sectors;

ii) maintain macroeconomic stability by keeping inflation at single digit and implementing a sound fiscal and monetary policy;

iii) continue growing the economy, improve revenue collection, to at least 18 percent of GDP and ultimately lower taxes as the economy grows;

iv) NRM will target fully financing the national budget in the next five years;

v) promote private sector-led strategy as the engine of growth of the national economy. To achieve this, the NRM government shall take measures aimed at reducing the cost of doing business. This will include among others investment in energy, road, railways, and simplification of the procedures of registering a business including registering land;

vi) float bonds as a way of raising more revenue to enable government invest in strategic areas like energy and transport infrastructure.