The Confederation of Economic Associations of Mozambique (CTA) has announced that the Mozambican State’s debt to the oil companies has tripled, rising from US$120 million to around US$450 million.
Also according to the confederation, which is the voice of the private sector, this debt is leaving the financial sector in an unsustainable situation. The latter is demanding that the debt be paid off and that fuel prices be adjusted upwards.
Meanwhile, society is demanding that the State reduce the cost of products to accompany the reduction of Value Added Tax (VAT) from 17 percent to 16 percent as part of the Economic Acceleration Package (EAP), announced by the government in August 2022.
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