Zimbabwe Mining, Energy to Anchor Growth

Positive developments has been recently recorded in the mining, manufacturing and energy sectors which are projected to anchor Zimbabwe’s economic growth, and is said to rise by 5 – 4 percent in 2022.

Government revenue is also likely to progress from 16.4% ($390.8 billion) of the Gross Domestic Product (GDP) in 2021 to 17.8% ($533.2 billion) in 2022, while outflow will increase to 19.4% ($579.1 billion) of the GDP from the 18.2 percent ($421.6 billion) in 2021.

Speaking at the post-Cabinet briefing in Harare last night, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa mentioned that the Cabinet had approved the Budget Strategy Paper for 2022, which had put into viewpoint, macro-fiscal issues that would guide prioritisation of budget allocations.

Mutsvangwa also further said that, 2022 National Budget would emphasis on creating a favourable environment for business investment and improving the living standards of the majority.

Mutsvangwa added, “As such, the priority areas of 2022 are the following – inclusive growth and macro-economic stability; developing and supporting productive value chains; optimising value in our natural resources; infrastructure, ICTs and digital economy; social protection; human capital development and well-being; effective institution building and governance; engagement and re-engagement and debt restructuring”.

The Minister of Finance and Economic Development, Professor Mthuli Ncube, is projected to extant the 2021 mid-year fiscal policy and economic review to Parliament soon.

Minister Mutsvangwa further mentioned that the details of the mid-term review would be in the statement Minister Ncube will present to Parliament.