- Zimbabwe’s Treasury is actively promoting its 2026 National Budget proposals, asserting that the measures are designed to sustain economic growth.
- The proposals aim to enhance revenue mobilization and reinforce macroeconomic stability.
- Finance Minister Professor Mthuli Ncube acknowledged some policy measures may need refinement to maintain competitiveness.
- Business member groups (BMOS) have raised reservations, particularly regarding new tax measures.
The 2026 National Budget, which was presented on November 27, has drawn scrutiny from various captains of industry and commerce. At a Post-Budget Breakfast meeting hosted by Zimpapers and the Confederation of Zimbabwe Industries in Harare, stakeholders urged the Government to review certain policy measures to prevent unintended negative consequences on the economy.
Minister Ncube reaffirmed the broad thrust of the expenditure plan, emphasizing the Treasury’s commitment to a balanced and growth-oriented policy environment. He addressed concerns over the continued impact of the Intermediated Money Transfer Tax (IMTT), which businesses have long sought to have scrapped or reviewed. Ncube highlighted the introduction of tax deductibility for IMTT and a 0.5 percent reduction in the ZiG IMTT rate to support digital transactions, alongside VAT adjustments crucial for revenue mobilization.
Timeline
- **December 9, 2025:** Treasury continues to defend and promote the 2026 National Budget proposals amid ongoing stakeholder discussions.
- **December 8, 2025:** Post-Budget Breakfast meeting held in Harare where business leaders voiced concerns.
- **November 27, 2025:** The 2026 National Budget was presented.
Key Players
- **Professor Mthuli Ncube:** Minister of Finance, Economic Development and Investment Promotion.
- **Treasury of Zimbabwe:** Responsible for budget proposals.
- **Business Member Groups (BMOS):** Stakeholders raising concerns.
- **Zimpapers and Confederation of Zimbabwe Industries:** Hosted the Post-Budget Breakfast meeting.
