Finance Minister Mthuli Ncube on Thursday delivered his 2025 Mid-Term Budget Review with a self-congratulatory tone, painting a rosy picture of Zimbabwe’s economic trajectory — despite the glaring reality of a deepening economic crisis that has left ordinary citizens struggling.
Addressing Parliament in Mt Hampden, Ncube claimed that Zimbabwe’s economy was on track to meet its projected six percent growth target for 2025, citing what he described as “positive economic developments.”
“Given the positive economic developments during the period January to June, we are confident that the projected economic growth of six percent… is achievable,” he said. Ncube attributed this optimism to a “favourable agriculture season, improved electricity generation, stable exchange rate and inflation rate.”
However, for many Zimbabweans, these so-called gains remain invisible. Prices of basic commodities continue to rise, the ZiG currency is already under pressure, and wages have failed to keep up with inflation — leaving the majority of citizens unable to meet basic needs.
In an apparent bid to appease business, Ncube announced new efforts to ease the cost of doing business.
“Government has with immediate effect begun the process of reviewing various fees and charges,” he said, promising to reduce red tape and “drastically” cut compliance requirements. But critics argue such reforms mean little when businesses are suffocating under power shortages, currency instability, and shrinking demand.
Ncube also insisted that there had been “economic stability during the first half of the year” and boldly vowed to maintain current policies. “We cannot afford any policy slippages,” he told lawmakers, seemingly oblivious to the growing public discontent and crumbling social services.
According to the minister, government revenue stood at over ZiG$118 billion, with expenditures exceeding ZiG$100 billion — yet service delivery in health, education, and transport continues to deteriorate.
Observers say Ncube’s budget review was long on self-praise and short on substance.
While he boasted about macroeconomic indicators, he said little about the human cost of austerity, corruption, and mismanagement.
To many Zimbabweans, Ncube’s declaration of success sounds detached from reality — a tone-deaf celebration in the middle of a worsening crisis.
Source: Zimeye
