Online Reporter
Oliver Kazunga
Senior Reporter
The Government is rolling out a broad strategy to shield Zimbabwe’s economic growth from emerging global and climate-related shocks, combining fiscal discipline, food security measures, climate-smart agriculture and strategic reserves to sustain the country’s economic momentum.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said while Zimbabwe’s economy continued to outperform expectations, authorities were taking proactive measures to protect growth from risks such as the anticipated El Niño weather phenomenon, geopolitical tensions and volatility in global commodity and fuel markets.
Speaking at the 2026 post-Mid-Term Budget Review breakfast meeting in Harare yesterday, Prof Ncube expressed confidence that economic growth would exceed the official projection after a strong first-quarter performance.
“The economy is growing very strongly.
“I believe the five percent growth target will be exceeded without difficulty.
“In the first quarter, growth was 6,8 percent compared to 4,5 percent during the same period last year,” he said.
The Treasury Chief said the Government’s focus had shifted beyond achieving growth to ensuring that economic expansion remained resilient in the face of external shocks.
He said Treasury had activated a comprehensive six-pillar strategy to cushion the economy against the effects of El Niño, recognising that agriculture remains central to economic performance, employment and food security.
The strategy includes building strategic grain reserves to at least 500 000 tonnes before the lean season, expanding irrigation infrastructure, promoting crop and micro-insurance for farmers, strengthening early warning systems and encouraging farmers in drought-prone areas to shift towards traditional grains better suited to low-rainfall conditions.
Prof Ncube said Government was also facilitating duty-free importation of key agricultural inputs to support production.
Beyond climate adaptation, he said authorities were paying greater attention to improving agricultural productivity through better soil management.
He noted that correcting soil acidity before fertiliser application could significantly improve nutrient absorption, reducing production costs while raising yields.
“Sometimes we spend so much on fertiliser, yet a significant portion is not absorbed because the soils first need to be treated,” said Prof Ncube.
He said improving soil health would enhance returns on agricultural investment and strengthen the country’s long-term food production capacity.
The Treasury Chief added that the Government remained vigilant against global economic risks, including geopolitical tensions that could disrupt fuel and fertiliser supplies.
To cushion the economy from such shocks, Zimbabwe had maintained adequate strategic fuel reserves while continuing to strengthen supply chains.
He said prudent fiscal management remained central to Government’s strategy, with budget surpluses being channelled towards reducing public debt and preserving macroeconomic stability.
The combination of fiscal discipline, climate resilience and targeted investment in agriculture, Prof Ncube said, would enable Zimbabwe to sustain growth while protecting livelihoods against increasingly frequent external shocks.
With mining, agriculture, manufacturing and infrastructure investment continuing to underpin growth, Zimbabwe is seeking to consolidate recent macroeconomic gains while reducing the economy’s vulnerability to climate change and global market disruptions.
Meanwhile, speaking at the same occasion, renowned economist Mr Eddie Cross gave Government’s economic management one of its strongest endorsements, saying the Ministry of Finance, Economic Development and Investment Promotion has emerged as the country’s best-performing ministry after restoring macroeconomic stability and laying the foundation for sustained economic growth.
He said the country’s improved fiscal and monetary discipline had transformed Zimbabwe’s economic outlook, with the economy now among the fastest-growing in Africa and potentially one of the fastest-growing globally.
This, he said, reflected disciplined economic management that had stabilised the economy after years of macroeconomic volatility.
“I was chairman of the board for the Government Finance Department and I would be proud of this statement because it reflects the growing macroeconomic stability in the country,” he said.
“It reflects the new stability in the monetary field and demonstrates that this economy is now growing on its own tracks as fast as any economy in Africa, and maybe faster.
“We may, in fact, be one of the fastest-growing economies in the world. That is reflected in the way revenue has come in and in the very rapid growth of our exports.
“Those are not accidental outcomes; they are the product of consistent policy implementation and disciplined economic management.”
