Zimbabwe’s economy is projected to grow by 6.6 percent in 2025, with gross domestic product expected to surpass US$52 billion by year-end, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube announced today at the Zimbabwe Economic Development Conference in Bulawayo.
The upward revision, from an initial 6 percent forecast, is being driven by the stability brought by the Zimbabwe Gold currency, strong agricultural output—particularly tobacco—and growth in the mining sector.
Professor Ncube said macroeconomic stability has improved since the introduction of the ZiG in April last year, with inflation easing and exchange rate disparities between formal and parallel markets narrowing.
“Prudent fiscal and monetary policies have created an enabling environment for economic growth,” he said.
The Minister highlighted the importance of partnerships in sustaining the growth trajectory.
“In this noble pursuit, partnerships remain vital. I call upon our development partners, captains of industry, academia, civil society, and all stakeholders to collaborate in the design and implementation of policies that foster innovation, competitiveness, and economic diversification,” he said.
He also urged broader participation in shaping the country’s economic future.
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“To this end, we call upon all stakeholders to participate and contribute policy proposals for NDS2, which is currently being crafted.”
Professor Ncube further called on the private sector to partner with government in wealth creation by leveraging recent infrastructure investments.
“Ladies and gentlemen, I urge the private sector to actively partner with government in wealth creation by leveraging recent investments in infrastructure, such as roads, renewable energy projects, and the expansion of health and education facilities.
"These developments are designed to unlock new opportunities for growth and innovation.”
He said government is also moving to improve the ease of doing business.
“In line with our commitment to foster a more enabling business climate, government is undertaking a comprehensive exercise to reduce the cost of doing business and enhance competitiveness.”
The Minister added that reforms are already underway.
“This includes systematically cutting levies, fees, and charges across all sectors in order to encourage efficiency, productivity, and growth. The goal is to cut red tape, eliminate overlapping charges, and create a more enabling environment for investment and business expansion.
"To date, government has streamlined levies, fees, and charges in the agriculture, tourism, and transport sectors.”
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