Harare – President Emmerson Mnangagwa admitted that the fiscal balance in the country is very bad and needs to be corrected as soon as possible in order to boost economic perception of Zimbabwe.

Food output slumped under Mugabe’s rule after the violent seizures of white-owned land in the former British colony.

The government plans to modernize, mechanize and industrialize agriculture to ensure the country has food security, and is targeting a surplus of crops including corn and wheat within two years.

In an interview with Bloomberg Television on the side lines of the 73^rd Ordinary Session of the United Nations General Assembly, where he is joining other world leaders in discussing how best to create equitable and peaceful societies, President Mnangagwa said his administration need to be honest with Zimbabweans as to what needs to be achieved.

“For us to do so there is need to apply fundamentals that may be harsh to our people but are necessary for us to cross the bridge.

“In that area yes we have resources, we are already addressing the issue in Agriculture. We have also introduced reforms in mining, like the Indigenisation Act, we have removed that to a great extend which allows foreign global capital coming into our field.

When asked where the capital will come from, President Mnangagwa said the entire world is open to do business with Zimbabwe.

“Other quickly come in, others looks at whether we are honest or not, so we are looking and we understand that after the perception that has been there, I wouldn’t be grudged with those that want to wait and see.

“But what we are saying should be judged by matching our talks with our action.”

Quizzed on how he is going to make his presidency as legitimate, President Mnangagwa who has been challenged by opposition Nelson Chamisa at the Constitutional Court with the later insisting that he won despite the court ruling in favour of the former said his message from the time of the military intervention will not change.

“From 24^th November 2017, I have preached peace, unity and love among our people and they are seeing it and that message has not changed. I am intensifying it left right and centre.

“For the first time, in 38 years of independence, we had an election which was free of violence, whereas in the past we had four or five political parties but this time around we had 103 political parties and 56 of those political parties participated in the plebiscite and 23 of the political parties contested for the presidency.

“But of course if a party loses elections not everybody accepts losing gracefully, but this happens all over, and I don’t think it’s new in Zimbabwe.”

Mnangagwa said he will consider a paid up opposition under our Common Wealth Parliamentary democracy the opposition is recognised.

“You recognise the opposition leader in parliament, and this is what we are going to do. But under the former administration there was no formal recognition of the opposition leader but under my administration we are embracing the Common Wealth to Parliamentary Democracy where you recognise the leader of the opposition and is given certain recognition and perks in parliament.”

Additionally Mnangagwa when asked whether he is concerned about the US – China relations he said China will remain the biggest investor in the country and also Zimbabwe is open to anyone who wants to invest in the country.

“China during the past period remained friendly to Zimbabwe and we have continued that friendship and I have no problem with China at all but I am embracing the entire community to say Zimbabwe is open for business, not only to China but to the entire international community should come in.

“As a matter of fact, am having visitors coming from across the world. In the past, the European Union had sanctions so you will see the entire European community out because of the EU sanctions on us.

“America had sanctions on us, they were closed down. We are now saying lets open up, I am open up. The quarrel was between us and Britain decades ago, but as I would say if they is a woman Prime Minister in Britain everything change.

“I am happy that things are changing because we have Theresa May. In fact when I was sworn in on the 24^th of November last year, the first foreign envoy to come and congratulate me came from Theresa May, after about 30-45 minutes after my inauguration and so far have met three or so ministries from the United Kingdom and the rapport and re- engagement is going on very well.”

He said as a result, German who has a lady Chancellor has sent again another minister and relations between the two countries are coming back the same with France, and will be meeting the Belgian Prime Minister at the summit.

“We feel that the entire world is opening up. I have seen several high level official from the US administration whom I have met in Harare and I also believe that the signals coming from Washington are indicative of re-engagement between Zimbabwe and the Americas.

“But still we maintain our relationships with India, Brazil, China and so on.”

President Emmerson Mnangagwa’s administration, appointed earlier this month, is developing a plan to help stabilize the economy, after almost two decades of mismanagement under former President Robert Mugabe’s autocratic leadership.

The country has faced cash shortages for at least the past two years as businesses and individuals moved money offshore and the import bill increased after exports collapsed.

The country’s current economic fundamentals are weak, and the authorities need to ensure that both business and consumer confidence improve, fiscal imbalances that are bringing pressure to bear on the financial-services sector are reduced, and the state is able to raise foreign loans.

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