Zimbabwe’s economy is booming on the back of US$1.2 billion forex reserve — says Mnangagwa
PRESIDENT Emmerson Mnangagwa says Zimbabwe is on a firm recovery path anchored by a stable macro-economic environment. Addressing a crowd gathered at Maphisa Stadium this Saturday to mark Zimbabwe’s 46th Independence Anniversary, Mnangagwa said the economy was booming amid a forex reserve in excess of US$1.2 billion. “The economy has registered commendable growth anchored on […] The post Zimbabwe’s economy is booming on the back of US$1.2 billion forex reserve — says Mnangagwa appeared first on NewZimbabwe.com.
Black News 
PRESIDENT Emmerson Mnangagwa says Zimbabwe is on a firm recovery path anchored by a stable macro-economic environment.
Addressing a crowd gathered at Maphisa Stadium this Saturday to mark Zimbabwe’s 46th Independence Anniversary, Mnangagwa said the economy was booming amid a forex reserve in excess of US$1.2 billion.
“The economy has registered commendable growth anchored on a stable macro-economic environment,” he said, revealing that foreign currency reserves now exceed US$1.2 billion.
He noted that inflation has significantly declined, stating that the country achieved a single-digit annual inflation rate of 4.1 percent in January 2026, helping to stabilise the ZiG currency.
Highlighting the role of exports and diaspora remittances, he said foreign currency inflows exceeded US$16 billion, driven by increased exports of gold, tobacco and platinum group metals, as well as contributions from Zimbabweans living abroad.
Agriculture was cited as a major success story, with Mnangagwa announcing record harvests.
“The 2024/2025 summer season produced 2.4 million tonnes of maize, exceeding the national annual grain requirement,” he said.
He added that wheat production had also surpassed targets, strengthening national food security.
Despite these gains, he acknowledged climate-related challenges affecting some regions.
“Regrettably, some areas continue to experience climate change-induced flooding and mid-season droughts,” he said, assuring citizens that government interventions would ensure food availability.
“No one and no region will starve.”
Mnangagwa also outlined modernisation initiatives, including the construction of artificial intelligence-powered grain silos and the expansion of irrigation systems to boost agricultural resilience.
On mining and industrial growth, he projected continued expansion.
“The mining sector has posted exceptional growth and is projected to reach 6.3 percent in 2026,” he said, emphasising the need for value addition and beneficiation of minerals such as lithium.
Infrastructure development was another key focus, with the President stressing the importance of roads and efficient border systems.
“Roads are an economy,” he said, highlighting ongoing highway upgrades and the installation of e-gates at border posts to facilitate trade and travel.
On social development, he pointed to government efforts in youth empowerment, health and education, while issuing a strong warning on drug abuse.
“The fight against drug and substance abuse needs the participation of all of us,” he said, urging families and communities to support rehabilitation programmes.
He also condemned the misuse of digital platforms, particularly the circulation of graphic content.
“The recording of road traffic accidents and the subsequent distribution of such material is totally unacceptable, inhumane and against the values of Ubuntu,” he said, warning that authorities would act to protect citizens.
On the international front, Mnangagwa reaffirmed Zimbabwe’s engagement and re-engagement policy.
“Zimbabwe is a friend to all and an enemy to none,” he said, noting upcoming global engagements including hosting regional summits and pursuing a seat on the United Nations Security Council.
The country’s 46th Independence Anniversary was held under the theme ‘Zimbabwe at 46, Unity and Development Towards Vision 2030.’
The post Zimbabwe’s economy is booming on the back of US$1.2 billion forex reserve — says Mnangagwa appeared first on NewZimbabwe.com.
.png)
