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GOVERNMENT will set aside $1,67 billion towards drought mitigation measures as the country readies for the 2019/20 farming season.
Finance and Economic Development Minister Professor Mthuli Ncube, revealed this when he presented the 2019 Mid-Term Policy Review Statement and a RTGS$10,85 billion supplementary budget in Parliament yesterday.
The budget was presented under the theme “Building a Strong Foundation for Future Prosperity”.
Minister Ncube said despite an increase in the planted area during the 2018/19 farming season, the country had witnessed decreased output for most crops due to an El Nino induced drought as well as the devastating Cyclone Idai disaster.
ALL SHARE
The AllShare index dropped 1.18 points 0,64 percent to close at 184.63 points. Simbisa lost $0,0499 to end at $0,9500, Cassava Smartceh Zimbabwe Limited fell by $0,0405 to trade at $1,4894 and Econet shed $0,0225 to settle at $1,5575. Other losses were in Delta which dropped $0,0215to $3,4013 and Innscor went down by $0,0108 to close at $2,1950.
Old Mutual was leading with a $1,0558 gain to close at $17,3529, CBZ Holdings added $0,0123 to settle at $0,5600 and SeedCo International rose by $0,0006 to close at $2,1212. Zimre Holdings traded $0,0001 higher at $0,0455.
Online Reporter