MTHULI TO PRESENT BUDGET TODAY

Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube will present the 2025 National Budget Statement this afternoon, amid high expectations that Treasury’s expenditure plan will reignite the strong growth momentum of the recent past, build resilience in the economy to withstand future natural and human-induced shocks as well as engender durable macro-economic stability.

While cautious not to pre-empt the exact details of the 2025 fiscal plan, Minister Ncube revealed at a pre-Budget seminar earlier this month in Bulawayo, some key insights into the Government’s priority areas, which will seek to match the limited resources with the country’s developmental goals.

In line with the expectations of many economists, Minister Ncube indicated that agriculture remained the cornerstone of the economy and would seek to ensure the sector anchors recovery efforts following the impact of El Nino-induced drought, which weighed on the sector’s traditionally strong contribution to growth.

He underscored the importance of building resilience in the sector through irrigation rehabilitation and development in light of the impact of adverse weather on agricultural performance.

“This recommendation aligns with the Government’s thrust of building economic resilience,” the Minister noted, hinting at significant allocations to enhance productivity and mitigate the effects of climate change.

Prioritising irrigation projects is expected to bolster food security and create sustainability in the face of recurring droughts.

Minister Ncube acknowledged calls for taking measures to stimulate the manufacturing sector, particularly in Bulawayo, historically the country’s industrial hub. Emphasis will also have to be placed on mineral beneficiation and value addition to move the economy from primary production to higher-value secondary and tertiary industries.

Such initiatives are expected to create decent employment opportunities and reduce Zimbabwe’s reliance on raw material exports.

The Government appears poised to channel resources into industrial revival as a means to drive broader economic transformation.

Education emerged as another critical sector, with stakeholders advocating for increased funding to address infrastructure deficits, including the need to allocate resources for construction of new schools and staff accommodation.

Minister Ncube also acknowledged the importance of investing towards promoting digitalisation of the domestic economy, the procurement of teaching materials, and improving remuneration for educators. Herald

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