The Economic Acceleration Package (EAP) has achieved approximately 80% of its global implementation, with several measures being transformed into long-term projects due to the complexity and time required to achieve significant results.
Announced in August 2022, the package comprises 20 measures aimed at improving the business environment, enhancing transparency and governance, and accelerating strategic infrastructure projects.
The formulation and implementation of the PAE emerged as a response to internal and external shocks that have impacted the national economy. These include the effects of climate change, terrorist attacks in Cabo Delgado, the Covid-19 pandemic, and the economic repercussions of the conflict between Ukraine and Russia. These factors have intensified challenges faced by households and businesses, highlighting structural weaknesses in the economy and placing additional pressure on the government’s capacity to implement initiatives.
Among the completed measures, key achievements include the reduction of the Value Added Tax (VAT) rate from 17% to 16%, the VAT exemption on the importation of production inputs for agriculture and electrification, and the reduction of Corporate Income Tax (IRPC) to 10% in the agriculture, aquaculture, and urban transport sectors. These measures, according to official information, were fully executed as part of the package.
Despite the progress, the long-term transformation of certain measures reflects the need for sustained efforts to address structural challenges and deliver lasting impacts.
The EAP was designed to counteract the recurrent shocks faced by the economy and provide a foundation for sustainable economic growth, with strategic projects and policy reforms continuing to be a priority for the government.
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