Harare (New Ziana) -Zimbabwe is inching closer to becoming a middle income economy with latest data released by the government showing that most citizens now spend on average US$9 per day, a Cabinet Minister has said.

Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube said Zimbabwe is already operating as a middle income economy.

He was addressing legislators during the ongoing 2026 pre-budget seminar being held in Bulawayo which is expected to set the tone for the upcoming National Budget.

Prof Ncube said the majority of Zimbabweans have now reached middle income status as they can now spend more than $9 per day on average, a strong indication that the economy is growing.

“You can see where we are, we are no longer a small economy, we are a serious economy going forward,” he said.

The Zimbabwean economy is projected to grow by 5.6 percent in 2025 owing to investments in infrastructure including roads, dams and other major national projects.

“The manufacturing sector is now the largest sector at 15.3 percent, followed by mining at 14.5 percent, wholesale and retail at 11.9 percent, finance and insurance  at 10.8 percent, agriculture at 9.3 percent, education at  4.3 percent, transport2.3 percent,” Prof Ncube said.

Meanwhile, lawmakers at the same seminar heard that Zimbabwe’s foreign currency reserves have jumped from $276 million in April to $930 million in September this year.

New Ziana