The Minister of Finance and Investment Promotion Mthuli Ncube is set to present the 2025 National Budget to parliament next week.
Apparently, Ncube says the total bids for the 2025 National Budget are over ZiG$700 billion against budget envelope shared through the second budget call circular with a ceiling of ZiG140 billion.
That is fives times the ceiling of 18% of GDP.
During the 2025 National Budget consultations, the treasury chief, Ncube revealed that a review of the bids will be carried out based on the prevailing economic conditions ahead of the 2025 national budget presentation slated later this month.
“The total bids for the 2025 National Budget are over ZiG$700 billion against budget envelope shared through the second budget call circular with a ceiling of ZiG140 billion. That is fives times the ceiling of 18% of GDP.
“The 2nd Budget Call Circular was issued before depreciation of the domestic currency. Therefore, we are updating the fiscal framework to take into account the new changes which will allow an upward review of ceiling,” said Professor Ncube.
He added that the budget aims to bolster the economy against both domestic and international challenges.
With Zimbabwe’s economy now anticipated to grow by 2% this year—down from the initial 3.5% projection due to severe drought—Treasury projects a substantial recovery in 2025, with growth expected to reach 6%, largely due to anticipated agricultural sector improvements.
Zwnews
