Zimbabwe's Finance, Economic Development and Investment Promotion Minister Mthuli Ncube has reaffirmed the government's 5% economic growth forecast for 2026, despite mounting global pressures from geopolitical tensions and commodity price volatility.
Presenting the first quarter economic review on May 19, 2026, Ncube stated that the economy expanded by 4.8% in Q1 2026, driven by strong performance in mining and agriculture. He noted that the government remains committed to fiscal consolidation and structural reforms to sustain growth.
However, the International Monetary Fund (IMF) in its April 2026 World Economic Outlook projected Zimbabwe's GDP growth at 3.2% for 2026, citing risks from drought, currency instability, and external shocks. The World Bank also forecast a more modest 2.9% growth for the country.
Ncube acknowledged the challenges but expressed confidence in the resilience of the economy, highlighting increased gold production and a rebound in tobacco exports as key drivers. He also pointed to ongoing negotiations with international creditors to clear arrears and unlock new financing.
