The Minister of Agriculture and Rural Development, Celso Correia, says that the foreign exchange instability may destabilise the export production sector in the country.
Celso Correia who was speaking on Tuesday in Nampula as part of his working visit explained that the appreciation of the metical and the devaluation of the dollar are creating uncertainty for investors, mainly those in the agricultural sector.
“If there is a sudden devaluation of the currency, naturally it destabilises the entire productive sector, because we started the campaign with one exchange rate perspective and at this moment we have another. At first, the appreciation of the metical increases the value of importers and we want to set up a productive sector that exports. Naturally a strong Mozambican currency is always very good, but it has to be strong with fundamentals and not with administrative measures,” he said.
The Minister for Agriculture and Rural Development said he hoped that there would be a specific reflection of monetary and fiscal policy to respond to the promotion of agriculture for export.
