Johnson Progress

Finance Minister, Professor Mthuli Ncube, has unveiled key allocations in the 2026 National Budget aimed at boosting youth empowerment, healthcare, and economic growth.

According to Professor Ncube, the budget sets aside ZiG1.7 billion for the Ministry of Youth Empowerment, Development and Vocational Training to support youth initiatives and capitalize the EmpowerBank.

The government is prioritizing youth empowerment, with a focus on job creation and entrepreneurship.

“The Government is committed to empowering this youth demographic through ensuring access to education and training, political participation, economic opportunities, recreational facilities, and protection from harmful practices,” said Professor Ncube.

The budget also allocates ZiG841.4 million for the Ministry of Sport, Recreation, Arts and Culture to support activities, including completing outstanding works at the national sports stadium and upgrading sporting facilities.

Additionally, ZiG30.4 billion has been allocated to the Ministry of Health and Child Care to strengthen primary healthcare, particularly in rural areas.

Professor Ncube highlighted the government’s commitment to improving the business environment, with ZiG459.8 million set aside for the Ministry of Industry and Commerce to support industry tooling and working capital requirements.

The Ministry of Mines and Mining Development receives ZiG789 million to promote beneficiation, while the Ministry of Tourism and Hospitality Industry gets ZiG339.4 million to boost tourism.

Global economic growth is projected to moderate, but Zimbabwe’s economy is expected to grow by 6.6% in 2025, driven by agriculture and other sectors.

“The domestic economy exhibited strong performance during the first half of the year, which is estimated to have grown by 8.1%,” said Professor Ncube.

Inflation remains a concern, with month-on-month ZiG inflation at -0.4% and annual inflation at 32.7% in October 2025.

The country’s external position has improved, with significant foreign currency inflows estimated at US$12 billion during the first nine months of 2025.

Professor Ncube emphasized the need for fiscal discipline, with a targeted budget deficit of below 3% of GDP.

The government aims to achieve macroeconomic stability and sustainable growth, aligning with the National Development Strategy 2 and Vision 2030.

The 2026 National Budget is expected to drive economic transformation, with a focus on innovation, digital transformation, and closing the gap between academia and industry.

As Professor Ncube noted, “Skills are the backbone of industrialisation. We are positioning Zimbabwe to compete globally by strengthening innovation and aligning educational outputs with industry needs.”