Zimbabwe will next year be reinforcing ongoing policy measures towards domestic economic recovery and incomes as well as facilitating economic growth and expanding the country’s productive capacity, Finance Minister Mthuli said last week.
He said this when he presented his 2022 budget strategy paper on Thursday. The paper, he said, was meant to guide debate about the budget when legislators hold consultations in their constituencies and when they meet as Parliament later in the year.
The priority areas for the forthcoming year 2022 were therefore:
- Inclusive Growth and Macro-Economic stability
- Developing and Supporting Productive Value Chains
- Optimising Value in our Natural Resources
- Infrastructure, ICT s and Digital Economy
- Social Protection, Human Capital Development and Well-being
- Effective Institution Building and Governance
- Engagement and Re-engagement/Arrears clearance and debt restructuring
Ncube said the domestic economy was targeted to grow by 5.4% in 2022, anchored on growth in sectors such as mining, manufacturing and electricity generation.
Government revenues were projected to improve from 16.4% (Z$390.8 billion) of GDP in 2021 to 17.8% (Z$533.2 billion), in 2022.
Expenditures were expected to increase from 18.2% (Z$421.6 billion) of GDP in 2021 to 19.4% (Z$579.1 billion) in 2022, in line with the desired sustainable budget deficit of 1.5%.