The president of the Confederation of Economic Associations (CTA), Agostinho Vuma, encouraged the government to continue implementing measures aimed at consolidating the revaluation of exports, whether through a decree on reference prices or transfers, or through the integration of the informal economy, the news portal Carta de Moçambique reported on Monday 22 April .
Speaking a few days ago at the tenth edition of the Business Environment Monitoring Council (CMAN), the official said that the organisation’s estimates show that this process can improve not only tax collection, but also the prospects for economic growth.
“If we take into account the revaluation of exports of bóer beans, minerals, heavy sands, natural gas and others, the balance of payments could rise from the current deficit of 903.2 million dollars (57 billion meticals) to a positive balance of 696.8 million dollars (44 billion meticals). This would boost economic growth from 5.1 per cent to 8.6 per cent in 2023, resulting in a drop in the public debt ratio from 75 per cent of Gross Domestic Product to 70 per cent, thus improving the country’s risk profile,” he pointed out.
According to Agostinho Vuma, this framework would mean the inclusion of new sources of funds for the Treasury, not only through the additional revenue from exports, but also by opening up space for new loans to be contracted, with the aim of financing and developing the economy.
He also highlighted the improvements resulting from the public-private dialogue to resolve the concerns raised by businesspeople about the Conformity Assessment Programme (PAC), a mechanism approved in February 2022 by the Council of Ministers to protect consumers from unfair foreign trade practices.
