President Emmerson Mnangagwa has projected Zimbabwe’s economy to rebound with a 6% growth rate in 2025, up from an anticipated 2% in 2024, citing a recovery in the agriculture and mining sectors.
This optimism comes despite the country’s ongoing power outages, which at times leave citizens without electricity for over 24 hours.
Speaking at the High-Level Structured Dialogue Platform on Arrears Clearance and Debt Resolution in Harare, Mnangagwa expressed confidence in the government’s fiscal policies and resilience:
“In 2025, the economy is projected to rebound and grow by 6% due to the recovery of the agriculture and mining sectors. Despite the challenges associated with the external debt overhang, global climate shocks, and the burden of illegal economic sanctions, Zimbabwe is realizing key milestones. The government remains committed to maintaining fiscal discipline through sustainable budget deficits of less than 2% of GDP.”
The event was attended by development partners and diplomats, including United States Ambassador Pamela Tremont.
However, the Citizens Coalition for Change (CCC) Shadow Finance Minister, Corban Madzivanyika, dismissed Mnangagwa’s projections as unrealistic.
“It is grossly unreasonable and illogical to think that Zimbabwe’s economy will grow by 6% in 2025,” he said. “Even with good rains, the agricultural sector remains constrained by inadequate power supply. Agriculture today depends on mechanization, which requires reliable electricity to boost productivity.”
Madzivanyika also cast doubt on the mining sector’s ability to drive economic recovery, citing widespread smuggling and underreporting.
“For instance, in 2022, Dubai reported $8.4 billion in gold imports from Zimbabwe, while the Reserve Bank of Zimbabwe recorded only $7.2 billion in exports. This $1.1 billion discrepancy reflects leakages caused by under-declaration, smuggling, and transfer pricing. The lack of political will to address these issues benefits those in power.”
Madzivanyika criticised the government’s handling of Zimbabwe’s mounting debt, which he said has reached 92% of GDP, exceeding both national laws and SADC standards.
“This unsustainable debt level means that funds meant for critical sectors such as health, education, and social protection are being diverted to debt repayment,” he said.
“The government’s sincerity under the structural dialogue platform is questionable, particularly regarding the governance pillar, which emphasizes respect for human rights, the rule of law, and the promotion of democracy.”
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