Zimbabwe recorded a strong fiscal outturn in the first half of 2026, with cumulative government revenue collections reaching ZiG137.8 billion between January and June, surpassing the targeted ZiG124.4 billion by 10.8%.

According to figures presented by the Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube in the 2026 Mid-Term Budget Review, the half-year performance represents progress toward the country’s full-year target of ZiG287.6 billion.

In US dollar terms, revenue collections for the period January to June 2026 amounted to US$5.3 billion, with tax revenue accounting for US$5.0 billion, and non-tax revenue amounting to US$325 million.

Value Added Tax (VAT) maintained its position as the primary driver of public revenue, generating 28.3% of total collections during the period.

Personal Income Tax served as the second-largest contributor at 16.6%, while Corporate Income Tax and Excise Duty accounted for 13.8% and 8.5% of aggregate revenues, respectively.

“The positive revenue performance during the period January to June 2026 reflects improved domestic economic activity, strengthened tax administration systems, enhanced compliance monitoring and the continued implementation of revenue mobilisation initiatives,” Treasury said.

The Ministry said revenue growth is expected to maintain its positive momentum through the remainder of the year.

Fiscal authorities project that ongoing economic expansion, combined with administrative reforms, enhanced compliance enforcement, and the full rollout and integration of new policy measures, will continue to support revenue performance through the end of 2026.