africa Economy industry and commerce Mozambique

Mozambique’s main employers association optimistic on economic recovery

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The Confederation of Economic Associations (CTA) of Mozambique, the main employers’ association in the country announced on Tuesday in Maputo that the economy is on recovery as macroeconomic indicators are revealing clear signs of progress.

“This will rebuild trust of the market in terms of the economic growth that we continue registering, as a result of the expansion of economic activities. Official statistics from the first semester of 2018 point to a growth of 3.3 percent,” said the president of the Board of CTA Agostinho Vuma from a conference on the performance of the national economy.

CTA is also optimistic regarding to the drop of interest rates influenced by this recovery and consequent improvements of the market, as more companies particularly small and medium will be in conditions to request loans to materialize their projects.

“Inflation continues low and steady, enabling the environment for the reduction of interest rates in the market, dropping monthly obligations for the requested loans,” said the CTA president.

CTA is the country’s main forum to interact with the government on behalf of the private sector and to influence the adoption of laws that enable an improved business environment.

Source: Xinhuanet

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