Story by Stanley James, Business Editor
ALL eyes will be on Treasury this Thursday when Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube presents revised tax and revenue collection measures in the 2025 Mid-Term Budget Review, as the country targets a six percent annual growth rate.
The review comes at a time when Zimbabwe’s economy has shown signs of recovery, with notable improvements in key sectors including mining, agriculture, and manufacturing, alongside relative stability of the domestic currency.
Government sources indicate that the review will highlight achievements made during the first half of the year, while addressing outstanding challenges amid global economic headwinds and climate-related disruptions.
Development economist, Dr Shadreck Matindike, described the upcoming presentation as an essential economic indicator that offers insight into fiscal adjustments and priority realignments.
“The budget review is vital in creating the basis of where the economy is moving or progressing by giving a clear picture on merits to be derived while focusing on revising the shortfalls with a view of balancing the needs of the economy and available resources, so it is an important indicator in sustaining overall development and further accelerating growth targets riding on current gains and the development agenda as enunciated by the Government,” he said.
With domestic consumption and investor confidence high on the agenda, it is anticipated that the budget review will propose new tax incentives, enhance the use of the Zimbabwe Gold (ZiG) currency, and tighten fiscal discipline across public institutions.
Chairperson of the Parliamentary Portfolio Committee on Industry and Commerce, Honourable Clemence Chiduwa, noted the need for the review to support the productive sectors.
“The budget review should focus mainly on policies to boost investor confidence through measures that seek further boost capacity of industries while unlocking value to the entire value chains so it is up to the relevant policies to further assess and review the performance of the economy in the first six months and chart the way forward for the next six months it remains to be seen how the budget review will therefore focus on sustainable measures to foster confidence and industrial growth,” he said.
The economic trajectory has impressed key global financial institutions, including the International Monetary Fund (IMF), World Bank, and African Development Bank, which have all endorsed Zimbabwe’s projected six percent economic growth for 2025.
Meanwhile, the mid-term fiscal statement is also expected to reaffirm Zimbabwe’s commitment to economic transformation under Vision 2030, as the Government seeks to consolidate gains achieved under the National Development Strategy 1 (NDS1) framework.
