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Govt Promotes Transition From Informal To Formal Economy Increasing Fiscal Revenue Regularizing Employment – Perm Sec MPSLSW

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Govt Promotes Transition From Informal To Formal Economy Increasing Fiscal Revenue Regularizing Employment – Perm Sec MPSLSW

Permanent Secretary in the Ministry of Public Service Labour and Social Welfare has said the Zimbabwean government is not leaving behind any stone unturned in its quest to Promote the Transition From Informal To the Formal Economy thereby Increasing Fiscal Revenue and Regularizing Employment.

Addressing delegates at the validation workshop on the formalisation strategy held at Rainbow towers hotel in Harare Perm Sec Simon Masanga said all Government poliicy frameworks seek to, “Promote the transition from informal to formal economy as a means of increasing the fiscal revenue base, regularizing employment, and ultimately growing the economy in a more sustainable manner. “

Perm Sec Masanga said, “Under the NDS1 Strategies for Decent Work, the Government prioritized the development and implementation of a national action plan to address the most pervasive decent work deficits in the informal economy. This is evidenced by the growth in informal economy where over 70% of our labour force is employed according to the 4th quarter 2021, labour force survey report compiled by Zimstat.This clearly demonstrates a weak performance and point to a myriad exigencies associated with our labour market system and leakages or under-estimation of the circular flow of national income in the formal path.

Masanga added that, “The Ministry was mandated by Cabinet to come up with a formalisation strategy. As such we undertook nationwide consultations which has led to this draft document which we all be deliberating on today. The involvement of all Government Ministries and informal sector stakeholders will ensure ownership and buy in for the implementation of the strategy document.”

The Permanent Secretary also highlighted the importance of having a well-crafted, evidence based national strategy which in turn will lead to the improvement in fiscal revenue, regularization of employment, reduced decent work deficits, increased social protection coverage, improvement in productivity, and economic growth as the country moves towards the attainment of an upper middle income under Vision 2030.

Masanga also highlighted the main objectives of the validation workshop: as;
1.interogate the draft mapping report, identifying gaps and proffer solutions, and
2.discuss the draft implementation plan and agree on the way-forward.

He extended his sincere gratitude to organisers of the workshop, the International Labour Organisation (ILO)and UNDP who provided financial and technical support for making this possible.

Present were Senior Government Officials , Representatives from Various Stakeholders

Invited Guests;
Members of the Press , the informal and informal sector.

ross moyo

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