Zimstat to conduct economic census in 2024.
Zimstat
The Zimbabwe National Statistics Agency (Zimstat) has announced that it will be conducting an economic census in 2024 in a bid to establish the structure of its economy and obtain data that will feed into the country’s gross domestic product (GDP) figures.
This was revealed by Zimstat Director-General, Taguma Mahonde during a statistics dissemination meeting in Bulawayo on Tuesday saying that this move will enable policymakers to make informed decisions on how best to manage and grow the economy.
Mahonde, said that the census will be a comprehensive survey that will capture data on all aspects of the economy, including the formal and informal sector players.
Economic Census
“This is the first time we are going to do economic census. Economic census is trying to take stock of the economic activities in our economy and it will assist us to establish the structure of the economy,” Mahonde said.
Mahonde indicated that the economic census is expected to feed into the production of GDP figures.He noted that lack of record-keeping from small enterprises was a major challenge, as it made it difficult to capture data from informal sector players.
However, he said that ZimStat conducts a household survey every five years, which is then used when conducting GDP surveys.
Two-Pronged Approach
“You will notice that the economic census take two pronged approach whereby in the first year we take stock of small enterprises and this usually takes the form of a survey because they lack good record keeping,” Mahonde said.
He added, “In the following year we take stock of established big companies because they have good record keeping.”
Accurate Data
Mahonde also highlighted the importance of having accurate data to inform policy decisions. He said that data is the foundation of good policy, and it is critical that policymakers have access to accurate and up-to-date data to make informed decisions.
Additionally, Zimbabwe has been battling with an underperforming economy for several years, and the government has been implementing various reforms to try to turn things around. The economic census will help to provide a more comprehensive understanding of the economy and identify areas that need attention.
Tailor Policies
Moreover, this will allow policymakers to tailor policies and strategies to address the challenges facing the country. In conclusion, the economic census is a crucial step in ensuring that there is accurate and up-to-date data on Zimbabwe’s economy.
Lastly, economic census will enable policymakers to make informed decisions that will help to grow and revive the economy. The census will also help to identify areas that need attention and ensure that policies and strategies are tailored to address the challenges facing the country.
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