The Minister of Finance, Economic Development and Investment Promotion has amended the annual budget process through Statutory Instrument 153 of 2026, the Public Finance Management (General) (Amendment) Regulations, 2026 (No. 2), issued in terms of Section 92 of the Public Finance Management Act [Chapter 22:19].
The regulations amend the Public Finance Management (General) Regulations, 2019, published as SI 135 of 2019, by repealing Section 11(1), which deals with annual budget documents, and substituting it with a new provision that sets out a detailed budget calendar.
Under the new Section 11(1), the Minister of Finance, Economic Development and Investment Promotion is required to determine the annual budget process, which will now require Ministries, Departments and Agencies to submit their inputs for the Budget Strategy Paper and Mid-Year Budget and Economic Review, including revised strategic priorities and expenditure intentions, by 1st June.
The Minister of Finance will then be expected to present the Budget Strategy Paper and Mid-Year Fiscal Review to Cabinet by 15th July, and to Parliament by 31st July. The Ministry will update the macroeconomic performance and forecast by 1st September, and issue the Second Budget Call Circular with expenditure ceilings for the medium term by 10th September.
The process will proceed with Ministries, Departments and Agencies providing their budget submissions to the Ministry of Finance by 30th September, followed by budget discussions between the Ministry and the MDAs from 1st October to 21st October.
The Minister will present the Proposed Budget to Cabinet at any Cabinet meeting in November before it goes to Parliament, with the national Budget itself to be presented to Parliament no later than the third Thursday of November, after which it will be debated and approved.
The Statutory Instrument, which appeared in the Supplement to the Zimbabwean Government Gazette dated 2nd October, 2026, also repeals the Public Finance Management (General) (Amendment) Regulations, 2021, published as SI 127A of 2021.
The new timelines are aligned to Vision 2030 and the National Development Strategy 2 (NDS2) thrust of strengthening fiscal discipline, transparency and results-based planning. By front-loading the Budget Strategy Paper and Mid-Year Review to July and anchoring expenditure ceilings by early September, the government is providing Ministries, Departments and Agencies with a predictable framework to link their strategic priorities to available resources. This sequencing ensures that the 2026 National Budget becomes a stronger implementation tool for NDS2, enhancing allocative efficiency, improving execution of flagship projects, and maintaining macroeconomic stability on the path to an upper-middle-income economy by 2030.
