Zimbabwe is on track to achieve its 2026 national budget revenue target of US$9.4 billion, supported by improved collections and strict fiscal discipline, Finance Minister Mthuli Ncube has said.
“Fiscal performance remains on track, with revenues projected at US$9.4 billion against expenditure of US$9.0 billion, reflecting improved collection and discipline,” he said on X.
“Looking ahead, export performance is expected to remain strong, supported by gold, platinum group metals, lithium, and tobacco,” Ncube said.
He said the sharp decline in inflation from above 90 percent mid-2025 to 4.4 percent in March 2026, confirms that “our stabilization measures are working”.
The US$9.4 billion revenue target represents a 17 percent increase from 2025’s target of US$7.57 billion.
The revenue collections are primarily driven by the Zimbabwe Revenue Authority through Value Added Tax, corporate tax, and personal income tax.
This comes as the country’s minerals revenue reached nearly US$1 billion in Q1 2026, with the Minerals Marketing Corporation of Zimbabwe (MMCZ) firmly on track to meet and potentially surpass its US$3.5 billion annual target.
MMCZ — the exclusive government agent for selling and exporting all minerals except gold and silver — recorded total mineral sales of 1,288,761 metric tonnes valued at US$983.85 million during the quarter, surpassing Q1 2025’s sales values by 79 percent.
The sales volumes for the period under review exceeded last year first quarter by 27 percent.