The business sector has argued that 500 million dollars from the State Budget (OE) should be channelled into national production, with a view to creating growth opportunities for local companies and reducing imports, the newspaper Noticias reports.
During a consultation event on local content in public spending, held last week, the president of the Confederation of Economic Associations (CTA), Agostinho Vuma, emphasised the importance of mapping local production, preventing national products from being replaced by imports.
On the occasion, he also stressed that the Executive should direct its spending towards promoting the local business fabric, including products that involve Mozambican raw materials, labour and capital.
Vuma argued that the money earmarked in the State Budget has not generated additional value for the national economy, largely due to the lack of incentives for the productive sector. ‘If the government identifies the goods that we produce domestically, it can ensure that these 500 million dollars are channelled to local companies, distributing income within the country and stimulating economic growth,’ he said.
By encouraging the national productive sector, the CTA predicts that the Gross Domestic Product (GDP) growth rate could rise from the current 4 per cent to 8 per cent.
However, the organisation recognises that there is still a lot of work ahead, especially with the implementation of the Economic Acceleration Package, and hopes that the next State Budget will take on board its suggestions.
