A Policy for Export Promotion

Abstract

It is clear from the published information that the Rhodesian economy has, over recent years, experienced a period of unparalleled growth. Though it may well prove impossible to maintain the high level of expansion achieved in 1971, as high a rate as possible is essential to the well-being of the country and of its people and must, therefore, remain the objective of all those concerned with business and the general management of the economy. The same published information makes it equally clear that one major threat to the maintenance of a high rate of expansion lies in the balance of payments where the strains imposed by rapid growth and particularly by the need for heavy expenditure on renewal and development of the infrastructure are resulting in a serious shortage of foreign currency. It is fairly widely conceded that the process of import substitution has, broadly speaking, been carried as far as possible. Little relief to the balance of payments is, therefore, likely from this source. Relief must instead be sought on the income side of the balance.