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Govt Fails To Avail Promised ZWL$18 Billion Stimulus Package

2 years agoThu, 27 Oct 2022 11:07:13 GMT
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Govt Fails To Avail Promised ZWL$18 Billion Stimulus Package

The government has failed to avail the ZWL$18 billion stimulus package it promised companies in 2020 to help them recover from the adverse effects of the COVID-19 pandemic.

In 2020, Finance and Economic Development Minister Mthuli Ncube promised to bail out embattled local companies.

However, Zimbabwe National Chamber of Commerce president Mike Kamungeremu told Business Times this week that businesses are still waiting for the rescue package. He said:

The 2020 (ZWL$18bn) support package did not reach the businesses which needed it the most.

The rescue package was equal to 9% of Zimbabwe’s gross domestic product or 28.6% of 2020’s National Budget.

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The package was aimed at assisting businesses to get back other feet following the economic slowdown caused by COVID-19.

At the time the ZWL$18 billion package was announced, critics questioned the mechanisms to fund the economic recovery and dismissed it as pie in the sky.

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9 Comments

Byron Chitanga · 2 years ago
pane akatozvitora serious here zvichitaugwa paya?
mtoriro · 2 years ago
makuzviwanza team yakaendep Mari yacho sometimes nyararai kana muchitibira
Anonymous · 2 years ago
And that Professor will keep telling you that there is budget surplus......
Doug · 2 years ago
What do they say about promises and trust? Isn't it you earn trust by keeping promises?
Vesto · 2 years ago
.... and you expect World Bank and IMF to lend you money? Dream on Prof. Vostro
ndunge · 2 years ago
voyz ririkurova cash harina kana cent
Chris · 2 years ago
Yakadyiwa nema Sanctions
Registered Voter · 2 years ago
mthuli is safe keeping the money for us.
Vesto · 2 years ago
Saka mari yacho yakaendepi?
General Hercules · 2 years ago
propaganda it was nt there in the first place , building castles in the air jus like ERRP

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