The Zimbabwe government has managed to curb expenditure and operate within budget, with spending reaching ZiG98.2 billion against a ZiG100 billion target for the first five months of 2026.
“…the 2026 national budget is operating within its approved limits, with expenditure at ZiG98.2 billion against a ZiG100 billion target for the first five months,” the Finance and Economic Development ministry said.
“This demonstrates that fiscal discipline is delivering results, with the focus now on sustaining this progress,” the Mthuli Ncube-led ministry said in a post on X.
The FinMin said the government has also realised another milestone by achieving and maintaining single-digit annual inflation for the first time in more than 30 years, averaging 4.4 percent from January to June 2026.
This comes as Zimbabwe has reached a staff-level agreement with the International Monetary Fund (IMF) following the first review of its 10-month Staff Monitored Programme (SMP), after meeting almost all reform commitments set for the period ending March 2026.
The agreement, announced by the IMF on Tuesday after a mission to Harare last month, represents another step in Zimbabwe’s efforts to restore macroeconomic stability, rebuild confidence and advance its long-standing arrears clearance and debt restructuring agenda.
The agreement still requires approval by IMF management before it becomes effective.
IMF mission chief Wojciech Maliszewski said implementation of the programme had remained on course.
“Completion of the review marks an important step in consolidating recent stabilisation gains and building a track record toward arrears clearance, debt restructuring, and re-engagement with the international community,” he said.