An economist has disputed Finance Minister Mthuli Ncube's assertion that most Zimbabweans have achieved upper-middle-income status, presenting government statistics that reveal widespread poverty and unemployment. Professor Gift Mugano cited Zimbabwe Statistical Agency data showing nearly half the population lives in extreme poverty, while informal employment accounts for 87.7 percent of jobs, leaving formal sector participation at just 12.3 percent.
Ncube stated during a Bulawayo pre-budget seminar that the nation's gross national income per capita of approximately $3,300 annually positions citizens to spend $9 daily, approaching the $4,500 threshold for upper middle income classification by 2030. Mugano countered that hospitals and schools face severe challenges while government fiscal pressures threaten currency and financial market stability.
The professor emphasized that accurate information rather than misleading narratives is essential for effective policymaking and stakeholder engagement in advancing national economic development.
Ncube stated during a Bulawayo pre-budget seminar that the nation's gross national income per capita of approximately $3,300 annually positions citizens to spend $9 daily, approaching the $4,500 threshold for upper middle income classification by 2030. Mugano countered that hospitals and schools face severe challenges while government fiscal pressures threaten currency and financial market stability.
The professor emphasized that accurate information rather than misleading narratives is essential for effective policymaking and stakeholder engagement in advancing national economic development.
