Finance minister Patrick Chinamasa set an ambitious growth target of 2,7 percent - later adjusted to 1.5 percent - but Invictus Securities say the prevailing conditions point to weaker growth.

"In terms of revenue collections, we forecast the economy to register a modest 0.6 percent GDP growth, down from the official figure of 1.5 percent, underpinned by poor revenue collections, drought, low mineral prices and continued decline in productivity as political protests escalate," said Invictus.