Stabilising the Zimbabwe Dollar further and consolidating economic growth will be a main priority in the 2024 budget, according to Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube.

The $44 trillion budget, which is due to be unveiled later this month, will anchor the next stage of the government's reform programme, known as the National Development Strategy 1. 

"The budget is running under the theme of consolidating economic transformation. The economy has gone through considerable transformation over the last five years. So, under this budget of about $44 trillion, we want to target specific areas. The first area is stability; the budget must speak to stability, such as currency stability, which we need in order to develop.

"The second is infrastructure development, right across water infrastructure, roads, energy and particularly rail infrastructure. In this budget, we will allocate funds for the resuscitation of rail infrastructure," he stated.

Furthermore, additional funds will be allocated to mining and agriculture, Bulawayo 24 News reports.

"That is the only way we can grow as a country and for our economy to create more jobs and realise high tax revenues going forward," Ncube commented.

To begin with, the government has prohibited exports of unprocessed lithium. "We now want to move to the next stage, as we move towards local battery manufacturing."

The government is also prioritising the mechanisation of the agricultural sector in a bid to boost production and productivity.

"In agriculture, we are already food secure as a nation; we want to invest more in that sector to make sure that food security at household level is maintained. Households can even earn more by selling their surplus. So, mechanisation of the Pfumvudza/Intwasa is critical."

In addition, the government is planning to undertake incentives to bolster the tourism sector's ongoing recovery from the pandemic, as well as increase funding in health and education.