Positive developments being recorded in the mining, manufacturing and energy sectors are expected to anchor Zimbabwe’s economic growth, which will rise by 5,4% in 2022.
Government revenue is also expected to improve from 16,4% ($390,8 billion) of the Gross Domestic Product (GDP) in 2021 to 17,8% ($533,2 billion) in 2022, while expenditure will increase to 19,4% ($579,1 billion) of the GDP from the 18,2% ($421,6 billion) in 2021.
Speaking at the post-Cabinet briefing in Harare last night, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said Cabinet had approved the Budget Strategy Paper for 2022, which had put into perspective, macro-fiscal issues that would guide prioritisation of budget allocations.
She said the 2022 National Budget would focus on creating a conducive environment for business investment and improving the living standards of the majority.
“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,” she added.
The Minister of Finance and Economic Development, Professor Mthuli Ncube is expected to present the 2021 mid-year fiscal policy and economic review to Parliament.
Minister Mutsvangwa said details of the mid-term review would be in the statement Minister Ncube will present to Parliament.