The Confederation of Business Associations (CTA) presented, this Wednesday, November 2, the Business Strength Index, which points out that the macroeconomic index in the third quarter remained at 50%.
“The main factors that explain this trend have to do with greater economic dynamics and stability of the exchange rate, while some negative points were also configured, such as the rise in prices and increase in interest rates,” explained Eduardo Sengo, executive director of CTA.
In terms of the Business Robustness Index by province, Sengo said that “Gaza had significantly improved its performance in comparison to the second quarter,” noting that “the factor that contributed the most was greater business dynamism due to the end of covid-19 conditions, especially in the trade and tourism sectors and an increase in agricultural production due to improved climate conditions.
Eduardo Sengo considered that “in general, the various economic sectors recorded an improvement in business performance in the third quarter of 2022,” with “agriculture being ahead of the others due to the peak in agricultural marketing, which included marketing in the normal circuit, the holding of fairs of agricultural products and the entry into operation of large agricultural undertakings.”
The Business Strength Index also notes that “in industry, there was an increase in sales due to the easing of restrictive measures and relative stabilisation of production costs. The transport sector was affected by the rise in the cost of fuel and the updating of tariffs, with stabilisation, however, of the cost of maintenance. Finally, the hotel and tourism sector registered an increase in turnover due to an increase in both private and state events, as well as an improvement in the occupancy rate of tourist establishments.
