Summary of the Budget (2026)
Enhancing Drivers of Economic Growth and Transformation Towards Vision 2030
Macroeconomic Environment
Global & Regional Outlook
Global GDP Growth
2024
3.3%
2025
3.2%
2026
3.1%
Tight financial conditions, trade tensions and softening demand drive projected slowdown.
Regional Performance
6.6% Growth (2025)
Zimbabwe forecast to outperform SADC bloc
Sub-Saharan Africa
4.1–4.4%
Ethiopia, Tanzania, Zambia leading
Precious Metals
Near Historic Highs
Gold tracking exceptionally strong
Global Inflation
Easing
Food & energy volatility persisting
Zimbabwe Economic Snapshot
Annual GDP (2025)
US$52.4B
Revised upwards after census
Q2 2025 Rebound
11%
Strong GDP growth
2026 Projection
5.0%
Real GDP growth
2026 Sectoral Outlooks
7.4%
Wholesale & Retail
6.5%
Electricity
6.3%
Mining
5.4%
Agriculture
3.7%
Manufacturing
Regional Standing
Zimbabwe's economy is now larger than Namibia, Mauritius, Malawi, Eswatini and Lesotho.
Inflation & Currency
Inflation in the ZiG currency stabilised significantly through 2025 after earlier volatility. Exchange rates showed improved stability across the interbank market.
Budget's highest priority: macroeconomic stability
External Sector
Export Performance
Exports more than doubling over this period. Imports rising more moderately.
Foreign Exchange Drivers
- • Private sector loan proceeds
- • Diaspora inflows
- • Export proceeds (dominate)
Fiscal Position 2025
Budget Execution
Utilization (by Sept)
56%
Utilization affected by exchange rate differentials
Total Expenditure
ZiG152.5B of ZiG276B allocated
Public Debt Position (Sept 2025)
Total Public Debt
ZiG622.3B
(Equivalent: US$23.4B)
External
ZiG361.2B
Domestic
ZiG261.1B
Debt clearance and arrears resolution remain under negotiation.
Strategic Priorities for 2026
Drawn heavily from NDS2 pillars, focusing on stability and inclusive growth.
Macro Stability
- •Strengthen currency anchors
- •Enhance financial inclusion
- •Lower cost of capital
- •Build reserves
Economic Growth
- •Push aggressive value addition
- •Formalise MSMEs
- •Expand industrial capacity
Agriculture & Climate
- •Irrigation expansion
- •Drought recovery support
- •Climate smart farming
Jobs & Youth
- •Increased sport funding
- •Youth incubators
- •Digital creators support
Social Services
- •Expanded hospital upgrades
- •Social protection
- •Vulnerable households
Infrastructure
- •Roads (ERRP2)
- •Dams & border posts
- •Airports & housing
Digital Economy
- •ICT backbone upgrade
- •Digital identity
- •eGovernment services
Governance
- •Security cluster support
- •Anti corruption initiatives
Diplomacy & Trade
- •Strengthen foreign relations
- •Host Intra Africa Trade Fair
Revenue Measures
Mining Fiscal Reforms
- •New quoted price method for mineral valuation
- •Tiered royalties for gold
- •Export tax on unbeneficiated minerals
Tax Policy Adjustments
- •Cash withdrawal levy reform
- •Increased presumptive tax enforcement
- •VAT improvements (imported services)
- •Digital/ecommerce taxation
Industry Support & Infrastructure
- •Duty suspensions for key inputs
- •Film & content production incentives
- •BPO & knowledge economy incentives
- •Public transport duty adjustments
Extensive reforms designed to boost tax efficiency, widen the base, and strongly support Zimbabwe's beneficiation agenda.
Budget Allocations 2026
Education
Health
Agriculture
Transport & Infrastructure
Public Service, Labour & Social Welfare
Devolution Funds
Devolution funds continue to support provincial infrastructure, water, clinics, and schools.
Citizen Highlights
Key Achievements 2025
Identified Risks
- Global trade tensions
- Tight global financing
- Commodity price volatility
- Climate shocks (Drought)
- Limited fiscal space
Final Summary
The 2026 Zimbabwe National Budget is a stability-focused, investment-oriented framework designed to shift the economy from raw commodity dependence toward value addition, industrial capacity, inclusive growth and digital modernisation.
While stabilising the currency, strengthening fiscal discipline and unlocking NDS2 ambitions.