{"id":18942,"date":"2022-05-05T15:01:14","date_gmt":"2022-05-05T15:01:14","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/covid-19-government-injected-money-to-contain-revenue-fall-in-participating-companies-noticias"},"modified":"2022-05-05T15:15:25","modified_gmt":"2022-05-05T15:15:25","slug":"covid-19-government-injected-money-to-contain-revenue-fall-in-participating-companies-noticias","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/covid-19-government-injected-money-to-contain-revenue-fall-in-participating-companies-noticias","title":{"rendered":"Covid-19: Government injected money to contain revenue fall in participating companies \u2013 Not\u00edcias"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Ministry of Economy and Finance (MEF) says that the government has disbursed 690 million meticais to companies in the transport sector to compensate for the drastic reduction in revenues caused by Covid-19.<\/p>\n

In its recently released Covid-19 Fund Management Report, referring to the 2020 financial year, the MEF explains that the disbursement was made according to the measures taken in compliance with the passenger limit based on the number of seats, and adds that the subsidies were paid to public transport and air transport companies.<\/p>\n

\u201cIn the electricity sector, 1,035.00 million meticais were allocated to the public company Electricidade de Mo\u00e7ambique (EDM) to compensate for the drop in revenue resulting from the tariff reduction for the most needy social groups, and for micro, small and medium-sized companies (MSMEs),\u201d the report also stresses.<\/p>\n

The Ministry of Economy and Finance further reveals that the executive channelled 690 million meticais [US$10.8 million] to the agriculture sector, with the amount used to purchase agricultural inputs for small and medium-sized enterprises (SMEs).<\/p>\n

The amount was transferred to the National Sustainable Development Fund (FNDS) which established a partnership with MOZA Banco, the latter assuming the role of financial institution responsible for the line credit.<\/p>\n

\u201cTo support the state treasury, an amount estimated at just over 15.5 billion meticais was disbursed to face the fall in tax revenues due to the downward revision of the Gross Domestic Product (GDP) from 4% to 2.2% and for the deferral of the payment of Corporate Income Tax (IRPC),\u201d the source stresses.<\/p>\n

The government prepared a Covid-19 Response Plan after the World Health Organisation (WHO) declared the disease a public health emergency of international scope on January 30, 2020.<\/p>\n

For the operationalization of the plan, the executive mobilised resources from its cooperation partners to respond to the challenges of the pandemic, with needs budgeted at around US$700 million.<\/p>\n

Of the amount requested, our country received just over US$386 million, of which around US$298.4 million were transferred to different sectors.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Ministry of Economy and Finance (MEF) says that the government has disbursed 690 million meticais to companies in the transport sector to compensate for the drastic reduction in revenues caused by Covid-19. In its recently released Covid-19 Fund Management Report, referring to the 2020 financial year, the MEF explains that the […]<\/p>\n","protected":false},"author":84,"featured_media":18941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-18942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nCovid-19: Government injected money to contain revenue fall in participating companies \u2013 Not\u00edcias - Mozambique<\/title>\n<meta name=\"description\" content=\"The Ministry of Economy and Finance (MEF) says that the government has disbursed 690 million meticais to companies in th ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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