Finance Minister Prof. Mthuli Ncube has presented the 2026 National Budget, outlining a total expenditure of ZiG290 billion.
He said the budget is anchored on the 10 key pillars of NDS2, which are expected to guide the country’s development strategy. The Minister projected GDP growth of 5% in 2026, premised on expectations of normal to above-average rainfall.
This outlook follows stronger-than-expected economic performance in the current year. According to Minister Ncube, the domestic economy expanded by an average of 8.1% in the first half of 2025, with full-year growth projected at 6.6%. The recovery has been driven by major gains in agriculture, mining, and ICT, which recorded growth rates of 24%, 27.3%, and 12.5% respectively.
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The Minister also pointed to improved external sector performance, highlighting a current account surplus of US$961.3 million between January and September 2025, compared to just US$31 million during the same period in 2024.
However, despite the positive indicators, Treasury faced significant pressure during the budgeting process. Line ministries submitted bids amounting to ZiG828.5 billion—more than triple the planned expenditure ceiling of ZiG253 billion for 2026. Government expects to collect ZiG288 billion in revenue next year.
In terms of allocations, the Security Sector (Defence and Home Affairs) received the highest share at ZiG46.8 billion. The Ministry of Health and Child Care was allocated ZiG30.4 billion, in line with the Abuja Declaration, while the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development received ZiG26.8 billion.
Minister Ncube emphasised that maintaining currency stability through strict fiscal discipline will remain a central priority for government moving into 2026.
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