Staff Reporter

The country’s economy is forecasted to achieve a robust 6 percent growth in 2025, driven by anticipated normal to above-normal rainfall expected to significantly boost agricultural output.

Speaking at a pre-budget seminar in Bulawayo yesterday, Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube underscored the resilience of Zimbabwe’s economy, attributing this growth trajectory to effective Government policies and strategic reforms.

The seminar, held under the theme “Building Resilience for Sustained Economic Transformation,” provided a platform for discussing the nation’s economic prospects.

Minister Ncube highlighted that Zimbabwe’s economy is projected to maintain a steady 5% growth rate beyond 2025, with agricultural recovery serving as a major pillar.

He cited several contributing factors, including stable electricity supply, a controlled exchange rate, and measures to curb inflation, as instrumental to building a stable economic environment.

“The effective implementation of these policies has led to the development of a robust economic environment, characterised by adaptability and the capacity to withstand external shocks, ensuring long-term prosperity for the nation,” Prof Ncube said during his address.

He emphasized the Government’s focus on fiscal consolidation, targeting a budget deficit of less than 3% of GDP by concentrating expenditure on critical areas that align with the National Development Strategy 1 (NDS1).

Despite global challenges, such as supply chain disruptions, geo-political tensions, and an El Niño-induced drought, Zimbabwe’s economy has demonstrated resilience over the past ten months, he noted.

Minister Ncube reiterated that the 2025 National Budget will prioritize growth in key sectors, including agriculture (projected to grow by 12.8%), electricity (10.6%), ICT (9.9%), and mining (5.6%).

Minister Ncube credited the anticipated growth in agriculture to climate-smart practices under the Pfumvudza/Intwasa scheme, along with enhanced input support, mechanisation, and irrigation development.

In outlining economic recovery strategies, Minister Ncube emphasized the need to deepen investment in irrigation infrastructure to mitigate future droughts.

He also addressed fiscal policy measures, revealing plans to collect ZWG140.2 billion in revenue and projecting expenditures of ZWG140.5.
Meanwhile, Minister Ncube is expected to present the 2025 National Budget at the New Parliament Building in Harare later this month.