Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has outlined key priorities for the remainder of the fiscal year, focusing on improving the ease of doing business, reforming agricultural regulations, and increasing infrastructure investment — all without resorting to money printing.
Speaking after delivering the Mid-Term Budget Review at the New Parliament Building this afternoon, Prof Ncube highlighted efforts by government to reduce regulatory burdens that hinder business profitability, particularly in the agriculture sector.
“You know, the cost of doing business is a big issue for the private sector, where in some businesses you can only be profitable if you don’t comply,” he said. “In the dairy sector, for instance, we found that if dairy farmers complied with all regulatory requirements, they would not make money.”
He said President Emmerson Mnangagwa had tasked the Finance Ministry with cutting such red tape to stimulate growth and ensure compliance does not stifle productivity.
Slow First Half, Acceleration Expected
Prof Ncube explained why only 35% of the national budget had been spent by end of July, citing typical slow revenue inflows and ministerial expenditure patterns early in the year.
“The first quarter is always slow — revenues come in sluggishly between January and March, and ministries take time to get their act together. But spending picks up in the second and third quarters,” he said.
He added that most revenue is expected between October and December, and the government plans to borrow locally in the third quarter to maintain spending momentum and settle obligations once revenue peaks at year-end.
Smart Infrastructure Financing
Turning to infrastructure, the minister reiterated government’s commitment to expanding capital projects using domestic contractors and innovative financing models.
“We’re not printing money. We’re using our own resources and structured debt mechanisms,” he said. “Our contractors are local. They create jobs, boost GDP and use local raw materials — all contributing to current and future growth.”
While acknowledging occasional payment delays, Prof Ncube emphasized that the government maintains good working relationships with contractors, describing them as “partners” in national development.
The minister’s remarks offered a glimpse into the second-half fiscal strategy — one aimed at maintaining macroeconomic stability while building momentum for economic transformation.
