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Hon. Prof. Mthuli Ncube notes that since the implementation of the NDS1, Zimbabwe’s gross national income per capita has grown by 84%, from over US$1,700 in 2021 to about US$3,200 in 2025. To achieve upper-middle income status, with a target of between US$4,636 and US$14,375 per capita, the country... show more

Ministry of Information, Publicity & Broadcasting

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Zimbabwe’s economy is bigger than previously thought — well, on paper, at least. According to a new survey by Zimbabwe National Statistics Agency - ZIMSTAT, the country’s GDP is now estimated at US$44.4 billion, up from the earlier estimate of US$35.2 billion. Why the jump? Finance Minister Hon Prof Mthuli Ncube says the revision follows an economic census that captured “a larger number of business entities that have emerged since 2019” — the last time Zimbabwe updated its GDP base year. This process, known as rebasing, adjusts GDP figures to better reflect the current structure of the economy. It adds economic activities that may not have been counted in 2019. So, what changes? 📌 Per capita income — the average income per person — would rise to over US$3,000 in 2025 (vs World Bank’s current US$2,656). 📌 The debt-to-GDP ratio - a measure of how much the country owes compared to the size of the economy - drops from 60% to 45%, making Zim’s huge debt look smaller when compared to the economy. 🚨 But there’s a flipside: a bigger GDP also means a lower revenue-to-GDP ratio — making Treasury look even less efficient at collecting revenue. Rebasing doesn’t change what’s in your wallet. But for govt and investors, it’s supposed to offer a more up-to-date picture of the true size of the economy, how it’s now structured — and who’s now part of it. The update comes after years of mixed signals from Govt officials, who’ve given varying GDP figures. The World Bank put Zimbabwe’s GDP at US$44.1 billion in 2024, while the IMF previously estimated it at US$38 billion.

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