THE Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, has delivered the 2025 Mid Term Budget Review Statement, maintaining Zimbabwe’s recovery and growth measures while pronouncing plans to ease the cost of doing business.
Reviewing the over ZiG$270 billion National Budget at the Parliament Building in Mt Hampden this Thursday, Professor Ncube reiterated the need to maintain the growth mode driven by stable economic conditions in the first six months.
“Given the positive economic developments during the period January to June, we are confident that the projected economic growth of six percent alluded in the 2025 National Budget is achievable, all sectors are expected to record positive growth in 2025 mainly on account of a favourable agriculture season , improved electricity generation, stable exchange rate and inflation rate, this not-withstanding declining international mineral commodity prices and subdued global economic climate,” he said.
Treasury is also forging ahead with the ease of doing business reforms.
“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, on the fiscal front, the Government will continue to review the existing tax system with a view to reducing reported and observed distortions, grant the necessary supportive regime for business growth and competitiveness,” he added.
Minister Ncube emphasised the importance of policy consistency for the country to attain economic growth, “Mr Speaker sir, the country has enjoyed economic stability during the first half of the year and I want to assure the honourable members that both fiscal and monetary authorities are going to stay in that mode, so we cannot afford any policy slippages.”
Other takeaways from 2025 Mid Term Budget Review include spending at over ZiG$100 billion, revenues of more than ZiG$118 billion; 35 percent of the budget used in the first six months; growth in agriculture, mining, infrastructure sectors; and stable inflation and exchange rate.
