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THE curtain came down on an eventful year yesterday and today ushers in a brand new one full of promise and excitement as Zimbabweans brace for the unknown. 2013 was largely a transformational year where a new political dispensation was ushered into office on the back of a resounding victory for Zanu-PF and a morale-sapping defeat for the MDC formations marking the end of the inclusive Government.

The year will also be remembered for the adoption of a new Constitution which was overwhelmingly endorsed by the majority of Zimbabweans in a referendum. It was a year in which the fortunes of the MDC-T and its leader Morgan Tsvangirai took a battering and the party is still searching for answers following its comprehensive drubbing at the polls. Zimbabweans will also remember 2013 as the year in which the smaller MDC led by Professor Welshman Ncube virtually disbanded in the aftermath of its dismal showing during the July 31 polls.

Prof Ncube went into hibernation soon after the results were announced — perhaps shell-shocked at the magnitude of the defeat — and some of his senior officials quit the party in a huff. Elsewhere, the larger MDC-T imploded and is currently embroiled in a leadership tussle with some of Tsvangirai’s lieutenants baying for his blood after blaming him for the crushing defeat suffered at the hands of Zanu-PF.

Reports link four senior officials including deputy treasurer Elton Mangoma and executive member Elias Mudzuri to those angling to take over from Tsvangirai whom they blame for the party’s failure to dislodge President Mugabe and Zanu-PF in six successive elections.

Although a party congress is scheduled for 2016, a confluence of factors could see it being called as early as this year with those gunning for Tsvangirai’s post arguing that this will give them enough time to prepare for the 2018 general election. Professor Arthur Mutambara, whose deputy Prime Ministerial position was always hanging by a thread due to disputes in his party — was consigned to political Siberia by the outcome of the July 31 polls and his career is virtually over.

On the economic front, the country started the year with the economy in virtual cruise control as politics took centre stage. While the economy had stabilized during the tenure of the inclusive Government, its ability to grow was tampered by the looming elections as the main parties in the Global Political Agreement hedged their futures on the outcome of the crucial polls. Thus there was a period of stagnation as the political protagonists slugged it out on the campaign trail.

Hopes are that the new Zanu-PF Government will steer the country to prosperity on the back of its much vaunted Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset) — the economic blueprint that will guide the country for the next five years. Finance Minister Patrick Chinamasa presented what analysts described as a realistic, brave and attainable budget.

The $4.4 billion budget statement predicted the economy will grow by 6.1 percent in 2014, rising to 6.4 in 2015 underpinned by ZimAsset and recovery in agriculture, mining and construction. Zimbabwe’s exports are seen reaching $5 billion in 2014, from $4.43 billion last year, but the import bill is projected to reach $8.3 billion this year, from $7.6 billion last year. Public debt stands at $6.1 billion, excluding the central bank and private sector debt, undermining Zimbabwe’s creditworthiness but Zimbabwe expects to attract $518.3 million in aid from foreign donors in 2014, up from last year’s $259.1 million.

Government will also re-engage with creditors to resolve debt and unlock monetary support. The use of multiple foreign currencies will remain for the foreseeable future. Government expects to collect $4.4 billion in revenue in 2014, from the $3.8 billion in 2013. In a bid to revive interbank lending, the Government will this month introduce an interbank programme guaranteed by the Africa Import and Export Bank, (Afreximbank) which has put up $100 million. Government will also assume the central bank’s $1.35 billion debt and capitalise it to the tune of $200 million to allow the bank to resume its role as a lender of last resort by March 31, 2014.

Government will assume the RBZ’s debt through the issuance of five-year Treasury Bills attracting five percent interest annually. A total of $20 million is required to repay Zimbabwe dollar accounts and Government will resolve the issue by the end of the year. Minerals will be securitised to raise cash while a Diaspora bond to fund small hydro power projects has been mooted. Against this background, Zimbabwe’s economy is expected to rebound provided all stakeholders pull together. With the political logjam untangled and a unitary system of Government in place, Zimbabweans expect their leaders to deliver on their electoral promises.

Thus an interesting year beckons in which Zimbabwe is expected to pull itself further out of the quagmire it finds itself in.