N$8.1 billion stimulus and relief package to assist businesses and households affected by COVID-19 – Positive cases now up to 14
The Minister of Finance, Ipumbu Shiimi on Wednesday announced a stimulus and relief package worth N$8.1 billion aimed at addressing the negative effects arising from the first 21-day lockdown period.
At a media brief held in Windhoek, Shiimi said the total stimulus and relief package amounts to N$8.1 billion, comprising of N$5.9 billion as direct support to businesses, households and cash flow acceleration payments for services rendered to government and N$2.3 billion of additional support, guaranteed by government, but off-balance sheet government liabilities to further support loan uptake on preferential terms by business and individuals.
Shiimi said some of the aspects to be covered by the package include job retention to mitigate the negative impact on income and provide for the basic amenities for households such as potable water to be able to cope with the constrained and conditions arising from the lockdowns.
“To avoid further retrenchments in the hardest-hit sectors, government will provide a wage subsidy to aid businesses in keeping employees on board in the tourism, travel and aviation and construction sectors. Details will vary between sectors,” Shiimi said.
“With this package of measures now being rolled out, I call on the business community and employers to avoid laying off workers at this point in time. This is an exceptional, crisis-related and temporary period for which stern efforts are required from all employers and the government,” he added.
Shiimi is confident that through effective partnerships and coordinated planning, they will be able to do what must be done to mitigate the economic and social impact on the COVID-19.
This will be the first phase of the economic stimulus and relief package geared at addressing the negative effects arising from the first 21-day lockdown period.
Meanwhile, the Minister of Health, Dr. Kalumbi Shangula on Thursday announced that the total number of positive infections in the country have risen to 14.