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Tax Authority: More Than 3,000 Companies Have Gone Bankrupt in the Last Five Years

Tax Authority: More Than 3,000 Companies Have Gone Bankrupt in the Last Five Years

Mozambique’s Tax Authority (AT) has revealed that more than 3,000 companies from various branches of activity declared bankruptcy between 2018 and 2022. According to the entity, these are institutions operating in the construction, mining, tourism, commerce, catering, services and transport sectors.

“We have records of several companies declaring bankruptcy in a short space of time, and this action can have significant adverse effects on an economy, influencing an increase in unemployment, a reduction in economic activity and instability in the financial markets,” said AT president Amélia Muendane, quoted by Semanário Económico.

According to her, this is a situation that requires a coordinated response from the government and financial institutions in order to mitigate its impacts and promote economic recovery.

Speaking at an event held on Tuesday (12), the president also revealed that in the period 2006-23, the evolution of the fiscal ratio (an indicator that measures the level of coverage of revenue over expenditure) went from 69 per cent to an annual average of 80 per cent.

“During this period, there was a slowdown in the budget deficit to 25 per cent, as a result of the global economic and health crisis and the extreme and adverse events recorded in the national territory,” she said.


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