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*Govt Fails To Avail Promised ZWL$18 Billion Stimulus Package*

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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.

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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.

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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