Former Finance Minister Tendai Biti Slams 2026 National Budget, Says It’s Egregious, Unconstitutional And Extractive

A political firestorm has erupted over Zimbabwe’s new national spending plan. Former Finance Minister Tendai Biti has launched a fierce attack on the 2026 budget, labelling it “egregious, unconstitutional and extractive.” His lengthy statement, issued after Finance Minister Mthuli Ncube presented the budget on November 27, 2025, claims the fiscal plan violates fundamental laws and brutally taxes the poor.

Biti argues the entire document fails the basic constitutional tests set out in Section 298 of the constitution, which demands transparency, accountability, and fair taxation.

“There is no question that the budget presented and its accompanying documents do not pass the constitutional test,” Biti stated. “It’s a potpourri of self-serving deception, mendacity and opaqueness.”

“The Average Zimbabwean Knows This Is Not A US$52 Billion Economy”

A core part of Biti’s criticism targets the budget’s optimistic economic figures. The plan projects a nominal GDP of US$52.4 billion (approx. R943 billion) for 2025. Biti calls the recent rebasing of national accounts in July 2025 an “opaque exercise in political self-indulgence.” He contrasts the official figure with the lived reality of citizens.

“The average ordinary Zimbabwean in Dotito or Chiendambuya knows that this is not a US$52 billion dollar economy. Mai Ezra in Chidyamakuni Village knows that her GNI is nowhere near US$3,200,” Biti said.

He supported his argument by referencing the World Bank’s Zimbabwe Economic Outlook 2025, published on December 1, 2025. That report notes the national extreme poverty rate was 42% in 2023. Biti described urban communities surviving on “tsaona” (a makeshift meal of a few leaves, a little fat, and a small plate of mealie meal).

“A Fancy Sounding Mascara To Pure Gross Theft”

The former minister accused the government of “fiscal evasion.” He detailed a pattern of underfunding budgets to hide deficits, which then creates massive arrears to suppliers. He cited the 2025 Public Debt Report, which notes validated domestic arrears of US$1.2 billion (approx. R21.6 billion). Biti further claimed another US$1.7 billion (approx. R30.6 billion) in “invalidated” arrears existed.

“These invalidated claims are nothing but the expression of corruption. They prove the existence of a parallel government,” Biti alleged.

He was scathing about the government’s proposed “Expenditure Arrears Clearance Strategy 2026-2030,” calling it “a fancy sounding mascara to pure gross theft.” Biti also singled out the Mutapa Investment Fund, citing an International Monetary Fund (IMF) report from October 2025 that called for greater transparency. He asserted the fund operates as an unaccountable “state within a state.”

Regarding Biti’s claim that “In 2023, US$1.9 billion was syphoned from [the Mutapa Fund] to pay Kudakwashe Tagwirei and partners.”

“Predatory And Extractive” Tax Measures Hit Ordinary People

Biti saved some of his strongest language for the budget’s revenue proposals, describing them as creating a “predatory extractive regime.” He argued that shifting tax burdens through measures like increasing Value Added Tax (VAT) to 15.5% and introducing a 2% levy on US dollar cash withdrawals unfairly targets struggling citizens.

“The tax measures are regressive, punitive, narcissistic and push the burden of taxation to the poor,” he said.

He warned that new taxes on digital services and a three-tier gold royalty could backfire, punishing ordinary users and driving artisanal miners to sell gold informally. Biti concluded the budget fails to address Zimbabwe’s deep structural issues and represents a fundamental breach of constitutional duty.