Amid cautious optimism and steady macroeconomic recovery, Finance, Economic Development, and Investment Promotion Minister Professor Mthuli Ncube has reaffirmed the Second Republic’s unwavering commitment to economic stability, growth, and private sector competitiveness through the 2025 Mid-Term Budget Review delivered in Parliament this Thursday.
Speaking from the legislative floor of the new Parliament Building in Mt Hampden, Professor Ncube struck a confident and forward-looking tone as he reviewed the over ZiG$270 billion national fiscal plan, expressing satisfaction with the economic outturn for the first half of the year. Buoyed by a strong agriculture season, improved energy generation, and currency stability, the Minister indicated that Zimbabwe remains firmly on course to meet its projected six percent growth target for 2025, a goal first outlined in the national budget and now reaffirmed by the mid-term performance data.
“Given the positive economic developments during the period January to June,” Minister Ncube stated, “we are confident that the projected economic growth of six percent is achievable. All sectors are expected to record positive growth in 2025, mainly on account of a favourable agriculture season, improved electricity generation, a stable exchange rate, and a stable inflation rate.” While acknowledging external headwinds, such as subdued global economic performance and falling mineral commodity prices, the Minister was unequivocal in his message, Zimbabwe’s domestic fundamentals are holding steady.
Perhaps most striking in the Minister’s statement was the immediate policy pivot to aggressively improve the ease of doing business. In what amounts to a direct response to private sector feedback and parliamentary debate on structural bottlenecks, Professor Ncube announced a comprehensive review of statutory fees, compliance requirements, and bureaucratic procedures, all with the intention of unlocking private investment and reducing cost burdens on enterprises. “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,” he said. These reforms, paired with ongoing tax rationalisation, are aimed at enhancing competitiveness and reinforcing the country’s growth momentum.
Crucially, the Mid-Term Budget Review offered more than statistics and forecasts; it delivered a signal of policy consistency. “Mr Speaker Sir, 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 are going to stay in that mode. We cannot afford any policy slippages,” the Minister declared, drawing a clear line in the sand, Zimbabwe’s growth trajectory must be protected by sound, predictable governance.
Additional insights from the review included reported revenues of over ZiG$118 billion against spending of approximately ZiG$100 billion, with 35 percent of the national budget already utilised in the first six months. Key growth drivers highlighted were agriculture, mining, infrastructure development, and power supply. Inflation has remained stable, as has the Zimbabwe Gold (ZiG) exchange rate, further validating monetary and fiscal policy coordination.
The budget review arrives at a pivotal time, with Vision 2030 fast approaching and the private sector expected to play a leading role in the country’s transformation. By focusing on realigning institutional processes, easing investor engagement, and consolidating economic stability, Treasury has positioned this mid-year fiscal update not just as a check-in, but as a recommitment to Zimbabwe’s long-term prosperity.
For Parliament, the business community, and ordinary citizens, the message was clear, Zimbabwe’s economic engine is running, and government intends to keep it on track. Through stability, reform, and consistency, the country is not only weathering the global storm, it is rewriting its own growth story.
