Source: Zim Celebs Blitz
Finance and Economic Development Minister Professor Mthuli Ncube has announced that a significant number of Zimbabweans have now reached middle-income status, with citizens spending an average of US$9 per day.
Speaking to news sources, Professor Ncube said the latest figures reflect progress in government efforts to achieve upper middle-income economy status by 2030. He noted that the country’s spending patterns show a shift in living standards among many citizens.
“The average Zimbabwean is now spending around US$9 per day, which is consistent with the lower threshold of middle-income status,” Professor Ncube said. He explained that this marks a key milestone in the country’s economic transformation drive.
Professor Ncube added that the increase in daily spending is linked to improvements in productivity, business growth, and increased access to foreign currency across various sectors of the economy.
He also said the government’s fiscal and monetary policies were beginning to yield results, allowing citizens to have greater purchasing power. “The stability in the exchange rate and the introduction of the Zimbabwe Gold (ZiG) currency have contributed to improved confidence and spending power,” he said.
The Minister reiterated that government remains committed to maintaining economic stability and creating an environment that supports income growth. He highlighted ongoing infrastructure projects and job creation initiatives as part of the broader economic reform agenda.
Professor Ncube said the government will continue to monitor spending trends to ensure the benefits of economic growth are widely shared among all citizens.
He concluded by reaffirming that the target to achieve upper middle-income status by 2030 remains on track, provided current policies are sustained and supported by both the public and private sectors.
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Aleck is a freelance journalist who holds an honors in Business Entrepreneurship and management from Chinhoyi University of Technology and a Bachelors in New Media and Journalism from the Civitas University in Poland. He was acredited by The Zimbabwe media commision in 2020.
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