HARARE // After paying public workers' salaries last week, the balance in cash-strapped Zimbabwe's government public account stood at just $217, finance minister Tendai Biti said yesterday.
"Last week when we paid civil servants there was $217 (left) in government coffers," Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.
"The government finances are in paralysis state at the present moment. We are failing to meet our targets."
Zimbabwe's economy went into free-fall at the turn of the millennium, after president Robert Mugabe began seizing white-owned farms.
The move demolished investor confidence in the country, paralysed production, prompted international sanctions and scared off tourists.
After more than a decade – in which the country suffered hyper-inflation of 231 million per cent and infrastructure that crumbled as quickly as prices went up – the situation is now more stable.
But public finances remain a mess and local business battles against unstable electricity supplies, lack of liquidity and high labour costs.
Zimbabwe's government has warned it does not have enough money to fund a constitutional referendum and elections expected this year.
Biti said that left no choice but to ask the donors for cash.
"We will be approaching the international community," he said.
The country's elections agency said it requires $104 million to organise the vote.
Government's national budget for this year stands at $3.8 billion and the economy is projected to grow 5 per cent.
The mineral rich country is now using the US dollar and the South African rand.
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10
Company%20Profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
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Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099