Zimbabwe remains on track to achieve its 5 per cent economic growth target for 2026, supported by macroeconomic stability, strong mineral exports and improved value addition, Finance Minister Mthuli Ncube has said.
Presenting the 2026 Mid-Term Budget Review in Parliament on Thursday, Ncube said the economy expanded at an annualised 6.8 per cent in the first quarter of 2026, driven by strong fiscal revenue, currency stability, favourable agricultural performance and higher mineral commodity prices.
He said the mining sector continued to perform strongly, with gold production expected to reach 55.6 tonnes in 2026, while export earnings from lithium products increased significantly during the first half of the year.
Ncube also noted that inflation averaged 4.2 per cent during the first seven months of 2026, marking Zimbabwe’s first period of single-digit inflation in more than three decades. He ruled out a supplementary budget, saying 42.5 per cent of the approved budget had been utilised in the first half of the year, indicating current allocations remain sufficient.
Looking ahead, the minister projected the economy would grow by another 5 per cent in 2027, driven by increased mineral beneficiation, manufacturing value addition and continued structural reforms, despite the potential risk of an El Niño-induced drought.