Mining, energy to anchor growth

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 percent in 2022.

Government revenue is also expected to improve from 16,4 percent ($390,8 billion) of the Gross Domestic Product (GDP) in 2021 to 17,8 percent ($533,2 billion) in 2022, while expenditure will increase to 19,4 percent ($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 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 tomorrow.

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