In response to the impact of COVID -19 on the economy, the treasury has come up with mitigatory interventions to save lives and limit the damage the lock down could cause to the economy.
This was said in a press release that was made by the Minister of Finance and Economic Development, Hon Mthuli Ncube.
Treasury is making proposals towards redirecting capital expenditure allocations under the 2020 National Budget towards health related expenditures.
Ncube highlighted that $100 million has been availed for the fight against COVID 19.
“Treasury has since availed over ZWL$100 million to fight against COVID-19, and is ready to attend to further requests on this issue,” said Prof Ncube.
One million has been set aside by the treasury for vulnerable families.
“Vulnerable groups in our society are the most exposed under this COVID-19 crisis. Accordingly, Treasury has set aside resources to cover one million vulnerable households under a Cash Transfer programme and payment will commence immediately.
“The Social Welfare Department will use its usual mechanisms to identify the beneficiaries,” he said.
The finance minister also indicated that US$2 million has also been availed for health related imports.
“Treasury availed US$2 million for urgent and immediate health related imports and will continue to mobilise and ring-fence the necessary foreign currency required for additional imports for the short to medium term,” he said.
To curb the shortage in the health sector, there will be hiring of additional medical staff.
“Treasury has also concurred to the unfreezing of over 4 000 health sector posts and creation of an additional 200 medical posts with a view of scaling the response to the COVID-19 pandemic,” said Prof Ncube.
The 2% which was being taxed on citizens, the 2% Intermediated Money Transfer Tax (IMTT) is currently ring fenced for social protection and capital development projects will be channelled towards COVID-19 related mitigatory expenditures.