By Sharon Tawuya
Bulawayo, (New Ziana) –Finance Minister Prof Mthuli Ncube on Wednesday said the government is seeking to achieve a balanced National Budget for the first time, with tight fiscal discipline anchoring the 2027 fiscal framework.
Presenting at the 2027 national pre-budget seminar, Prof Ncube said revenue collections in 2026 are projected at ZiG287.64 billion (US$9.4 billion) against projected expenditures of ZiG290.88 billion (US$9.5 billion) – a near balance.
He said preliminary outturn for the first nine months shows fiscal consolidation is already taking hold, with revenue collected reaching ZiG224.67 billion against expenditures of ZiG188.68 billion.
“On a cash basis, income exceeds expenditures by ZiG36 billion, which went towards repaying some outstanding Government loan obligations and arrears to service providers,” he said.
Prof Ncube said at year-end, fiscal discipline will be entrenched to limit budget overruns, as the government pursues an overall budget deficit of less than 3 percent of Gross Domestic Product in 2027.
“To advance the economic transformation agenda as outlined in NDS2 (National Development Strategy), the government will sustain the implementation of structural reforms aimed at enhancing public spending efficiency and promoting private sector-led growth,” he said.
He said the 2027 National Budget will be guided by NDS2 priorities aimed at accelerating momentum towards Vision 2030, while ensuring public resources are directed towards programmes that accelerate economic transformation, promote inclusive growth and improve quality of life.
During January to September this year, the main contributors to revenue were Value Added Tax at 28 percent, Personal Income Tax 17 percent, Corporate Income Tax 13 percent, Excise Duty 9 percent, and Customs Duty 7 percent.
Prof Ncube said growth in 2027 is projected to moderate to 3.5 percent from an initial 5 percent forecast, weighed by a Super El Niño with high chances of drought, but supported by entrenched macroeconomic stability, strong mineral export performance, Ease of Doing Business reforms and easing geopolitical tensions.
He said as the government consolidates the gains of NDS1, the 2026 revenue strategy will focus on attracting and retaining both domestic and foreign investment.
New Ziana
