Zimbabwe’s 2026 National Budget has now formally come into effect after President Emmerson Mnangagwa signed into law the Finance Act and the Appropriation Act, giving legal force to the spending and revenue plans approved by Parliament.
The signing allows the Treasury, under Finance, Economic Development and Investment Promotion Minister Mthuli Ncube, to legally release and spend funds allocated to ministries and government departments in the 2026 fiscal year.
The development was announced by Chief Secretary to the Office of the President and Cabinet, Martin Rushwaya, through an Extraordinary Government Gazette published on Tuesday.
“The following laws, which were assented to by His Excellency, the President, are published in terms of Section 131(6)(a) of the Constitution of Zimbabwe: the Finance Act and the Appropriation Act,” the notice stated.
The Finance Act gives effect to the fiscal policy measures outlined in the national budget, while the Appropriation Act authorises expenditure votes for government ministries and departments.
The two bills were passed after extended debate in both the National Assembly and the Senate, with lawmakers raising concerns over several proposed measures. During the parliamentary process, Treasury made a number of adjustments, which helped pave the way for final approval.
Among the key concessions was an increase in Parliament’s budget allocation, which will rise by an additional ZiG800 million from the originally proposed ZiG3 billion. The Finance Minister also withdrew a proposal to double the gold royalty rate to 10 percent after legislators warned it would harm the mining sector.
Instead, the gold royalty rate will remain at five percent for prices ranging between US$1,200 and US$5,000 an ounce, a move welcomed by mining companies and industry groups.
Treasury also dropped plans to introduce a cash withdrawal levy, following concerns that it would place additional pressure on formally employed citizens and undermine efforts to grow the formal economy. Calls to review foreign currency withdrawal charges were also acknowledged, particularly to protect diaspora remittances and small to medium-sized enterprises.
Professor Ncube presented the 2026 National Budget last month, describing it as a balance between revenue generation and targeted spending aimed at economic stabilisation and growth. With the signing of the two Acts, the government can now begin implementing its fiscal plans for the year ahead.
