Ncube claims Zimbabweans now middle income earners

Zimbabwe has achieved middle-income status based on daily spending patterns that average above $9 per person, Finance Minister Mthuli Ncube told attendees at a budget planning workshop in Bulawayo. The nation remains positioned to reach upper middle-income classification by 2030, according to government projections under its development framework.

Speaking at the 2026 pre-budget conference, Ncube reported that economic expansion during the 2021-2025 period will reach approximately 5.6 percent annually, exceeding the 5.2 percent target established in National Development Strategy 1. The minister projected 6.6 percent growth for the current year as the five-year plan approaches completion on Dec. 31.

World Bank standards define upper middle-income economies as those with gross national income per capita of at least $4,500 yearly, translating to $12 in daily spending. Zimbabwe currently records $3,300 in per-capita income, which supports the $9 daily expenditure figure cited by the minister. Ncube highlighted substantial infrastructure investment in roads, dams, and energy projects through both government programs and private sector involvement. Vision 2030 aims to establish Zimbabwe as an upper-middle-income economy marked by growth, stability, and enhanced living standards for citizens.