By Tafara Pande
Harare – Treasury has reaffirmed Zimbabwe’s economic recovery trajectory after reviewing the ZiG$270 billion National Budget, with Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube declaring that the 6% growth target for 2025 remains intact.
Presenting the Mid-Term Budget Review Statement at Parliament in Mt Hampden on Thursday, Professor Ncube highlighted strong macroeconomic performance in the first half of the year, underpinned by a stable exchange rate, controlled inflation, improved power generation, and a favorable agricultural season.
“Given the positive economic developments during the period January to June, we are confident that the projected economic growth of six percent is achievable,” Ncube said. “All sectors are expected to record positive growth in 2025 despite declining international mineral commodity prices and a subdued global economic climate.”
In a bid to further strengthen the business environment, Treasury has embarked on a comprehensive review of fees, charges, and regulatory processes.
“Government has with immediate effect begun the process of reviewing various fees and charges. In addition, the number of bureaucratic steps and compliance requirements will be drastically reduced,” Professor Ncube announced.
He added that the fiscal authorities will continue to fine-tune the tax system to eliminate distortions and support business growth, competitiveness, and investment.
The minister underscored the importance of maintaining economic stability and policy coherence.
“The country has enjoyed economic stability during the first half of the year, and I want to assure honourable members that both fiscal and monetary authorities will remain in that mode. We cannot afford any policy slippages,” Ncube stressed.
According to the review, government spending in the first half of 2025 reached ZiG$100 billion, with revenues exceeding ZiG$118 billion. About 35% of the total budget was utilized in the six months under review.
Growth was recorded across key sectors, including agriculture, mining, and infrastructure, supported by steady inflation levels and a resilient exchange rate.
