CCC, Zanu-PF MPs pass Mthuli Ncube's budget

The 2025 National Budget, designed to drive economic growth, enhance social protection, and build resilience, was passed by Parliament last Thursday after intensive debate that stretched into the early hours of the morning.

Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube, expressed satisfaction with the Budget's approval, describing the extensive discussions as a testament to Parliament's commitment to representing Zimbabwean citizens.

“This followed long debates and discussions over two days last week and three days this week. On one occasion, we finished at 5.30 a.m. It shows Parliament was really keen to represent the citizens of Zimbabwe in contributing to the Budget," said Prof Ncube.

Presented on November 28 under the theme "Building Resilience for Sustained Economic Transformation," the ZWL276.4 billion (approximately US$7.5 billion) Budget focuses on resilience-building measures for economic transformation and social protection.

The Budget emphasizes resilience against climate shocks and food insecurity, particularly for farmers. Investments in irrigation schemes are being prioritized, bolstered by the construction of major dams such as Muchekeranwa in Marondera and Chivhu Dam. These initiatives aim to reduce dependence on rain-fed agriculture amid climate change challenges.

Women and youth are set to benefit through increased capitalization of EmpowerBank and the Zimbabwe Women's Microfinance Bank. Plans to waive collateral requirements for some loans will enable access to funding for individuals without traditional security, facilitating entrepreneurial projects.

Prof Ncube emphasized the importance of fiscal discipline, with the Budget deficit targeted to remain within 0.4%—or at most 1%—of GDP. This strategy aims to prevent government debt monetization, which could destabilize the currency and drive inflation.

"The Budget supports our discipline in both monetary and fiscal sectors to ensure currency and macroeconomic stability," he noted.
Social Welfare and Devolution

Funds have been allocated for food aid to vulnerable communities and provision of sanitary wear for schoolgirls under social welfare programs.

The devolution program, launched in 2019, will also receive support to continue its transformative impact on communities by providing clean water, constructing roads, clinics, and schools based on specific local needs.

A development finance fund has been established to enhance industrialization and manufacturing capacity, fostering value chain development across sectors.

The passage of the Budget followed detailed input from portfolio committees, which conducted public consultations. Parliamentarians scrutinized how the Budget would enhance resilience across sectors and deepen economic transformation.

“The debate was very constructive and robust. Every clause was debated, and I think citizens will be pleased that Parliament did a thorough job in reviewing this Budget. It's certainly a good Budget indeed," concluded Prof Ncube.

The 2025 National Budget sets the stage for sustained economic transformation while addressing pressing social and climate-related challenges. Its approval marks a critical step in Zimbabwe's development trajectory, with policymakers expressing optimism about its potential impact.