Zim Economy Grew 6.3% on Average Over 7 Years, Ncube Says

Staff Writer

HARARE – Zimbabwe’s economy has grown faster than expected since 2018, averaging 6.3% annually—excluding pandemic and drought years—and surpassing its 5% target, Finance Minister Mthuli Ncube said.

This comes as Zimbabwe’s economy is projected to be the fastest-growing in the region, with GDP growth forecast at 6.6% in 2025 and 5% in 2026.

This significantly outpaces the Southern Africa Development Community (SADC) average of 2.9% for 2025.

The growth is attributed to the country’s economic reforms, improved fiscal management, and a recovery in key sectors like manufacturing and agribusiness following the 2024 drought.

“Excluding the Covid-19 pandemic and drought years, the economy recorded an average annual growth of 6.3% over the past seven years – a cumulative increase in GDP of 31.5% since 2018 – surpassing the NDS1 target growth of 5.0%,” Ncube stated at a pre-budget seminar.

When including the drought-affected year of 2024, the minister noted the average growth over the period was 5.5%.