12 °c
London
Saturday, September 23, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Economy

Mozambique unveils ambitious economic stimulus package

Elizabeth Khumalo by Elizabeth Khumalo
August 9, 2022
in Africa, Agriculture, FA, Finance, Mozambique, Natural Resources
Reading Time: 2 mins read
1.4k 89
0
Mozambique unveils ambitious economic stimulus package
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The president of Mozambique, Filipe Nyusi presented today in the capital Maputo a new program to accelerate his country’s economy.

The program entitled “PAE” (roughly translating into ‘Program for the acceleration of the Economy’) consists in 22 measures divided in two sets of reforms, the first being fiscal and economic stimulus and the second the improvement of its business environment, transparency, governance and the acceleration of strategic infrastructure.

The fiscal and economic stimulus interventions include the reduction of selected taxes with a direct impact on the main productive sectors. The measures are intended to create mechanisms to reduce the bureaucracy of key elements in the tax code simplifying fundamental processes to attract new investments, greater control over customs and mineral resources tax evasion and promotion of public housing, among others.

These measures also include actions to strengthen the private sector including better access to credit (through concessional lines); boosting and enhancing the competitiveness of national logistics corridors and ensuring that a share of the revenues from natural resources is kept on their regions of origin to foster local content development.

Also read: Mozambique LNG exports to start in October

As for the improvement of the business environment, transparency and governance, the measures include stronger pension funds regulation; Structural improvement in the efficiency of public services; Improving internal audits and; the adjustment of labor laws and visa regime.

Speaking on the sidelines of the event, Max Tonela, Mozambique’s Minister of Economy and Finance explained that the program is the result of a government analysis based on a number of public consultations with the private sector over the last months.

Although Mozambique’s economic performance has been heavily affected by consecutive shocks in the last few years including cyclones, covid, insurgents in the north, and the hidden debt budget suspension, in the last months, the country has shown strong signs of recovery, including a return to the IMF’s program and stronger support from the World Bank and other multilaterals.

The conflict in Ukraine aggravated Mozambique’s economic situation but at the same time evidentiated the country’s great unexplored potential as an agriculture and energy hub. The country is about to ship its first LNG from ENI’s platform in the coming months coinciding with a growing demand for gas in Europe.

Related

Tags: EconomyFeatureFinanceMax TonelaMozambiqueMozambique announces Package of Economic StimulusMozambique unveils ambitious reforms packageMozambique’s Minister of Economy and FinancePrivate SectorreformsSMEмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare596Tweet373Share104Pin134Send
Elizabeth Khumalo

Elizabeth Khumalo

Made in Britain with prime Zimbabwean parts! Looking through the glass half full for a positive Africa narrative! #Africarising

Related Posts

Weekend

6 stunning beaches in Egypt to visit in 2023

by See Africa Today
September 23, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022
Development

Opportunity through adversity: 8th annual Africa risk-reward index

by Rafael Carvalho
September 23, 2023
Tech

Elon Musk’s Starlink is off to a bright start in Africa

by The Exchange
September 22, 2023
Africa

Nigeria’s smart city dream gets US$200M boost from Afreximbank

by The Exchange
September 22, 2023
Tech

Kenya seeks partnership with Apple

by Web3Africa
September 22, 2023
Mozambique eVisa
 
MozParks

Translate this page

Read the Latest

Weekend

6 stunning beaches in Egypt to visit in 2023

by See Africa Today
September 23, 2023
0

Nestled along the Red Sea and the enchanting coastlines of the Mediterranean Sea, Egypt has some of the best beaches...

Read more
The Forbes Billionaires’ list: Africa’s richest people 2022

Opportunity through adversity: 8th annual Africa risk-reward index

September 23, 2023

Elon Musk’s Starlink is off to a bright start in Africa

September 22, 2023

Nigeria’s smart city dream gets US$200M boost from Afreximbank

September 22, 2023

Kenya seeks partnership with Apple

September 22, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107.3K other subscribers
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?