{"id":30991,"date":"2022-12-16T10:43:50","date_gmt":"2022-12-16T10:43:50","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-macroeconomic-environment-stagnated-in-2022-but-better-is-expected-for-2023"},"modified":"2022-12-16T11:00:10","modified_gmt":"2022-12-16T11:00:10","slug":"mozambique-macroeconomic-environment-stagnated-in-2022-but-better-is-expected-for-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-macroeconomic-environment-stagnated-in-2022-but-better-is-expected-for-2023","title":{"rendered":"Mozambique: \u201cMacroeconomic environment stagnated in 2022, but better is expected for 2023\u201d"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>The president of the Confederation of Economic Associations, Agostinho Vuma, said this Wednesday (14-12) during the association\u2019s end-of-year briefing, that the macroeconomic environment in 2022 had shown a tendency to stagnate.<\/p>\n<p>This resulted from the rise in interest rates, which led the financial system\u2019s prime rate to reach 22.6% in December.<\/p>\n<p>\u201cIn 2022, it became more expensive for small and medium-sized companies (SMEs) to honour their financial obligations with the banks, as well as to contract new loans,\u201d Agostinho Vuma said.<\/p>\n<p>In a year marked by the announcement of the government\u2019s Economic Acceleration Program (PAE), the Mozambican private sector was satisfied with its approval. However, \u201cit has expressed dissatisfaction with the concrete format and the final content of the fiscal package\u201d, said Vuma.<\/p>\n<p>He gave as an example the 10% reduction of Corporate Income Tax (IRPC) for agriculture. \u201cThe private sector has always advocated that it be in force for at least 10 years, as it would help to attract investment, taking into account the payback period of the same in certain cultures. However, there are voices that say that it can only last two years,\u201d he complained.<\/p>\n<p>Meanwhile, for 2023, Mozambican businesspeople foresee an improvement in the business environment despite the risks that still hover at national and international level.<\/p>\n<p>\u201cWe foresee a positive and hopeful 2023 for the national private sector,\u201d Vuma declared. \u201cWe have high expectations regarding the effective implementation of measures within the scope of the PAE, with emphasis on the reduction of the tax burden as a mechanism to boost business recovery.\u201d<\/p>\n<p>\u201cAs a CTA, we would like to see problems related to the late payment of suppliers\u2019 invoices and VAT refunds addressed. Companies, particularly SMEs, are suffering because of these situations, as their treasury is under great pressure and they are unable to comply with tax obligations and banks\u2019 demands. In such a situation, public spending, instead of promoting the growth of SMEs, causes them to go bankrupt,\u201d Vuma argued.<\/p>\n<p>Deputy Minister of Industry and Commerce, Ludovina Bernardo, meanwhile reassured the private sector, saying that \u201cthese are legitimate concerns, but, as you can see, the government defines the measures within the possible and acceptable parameters, so that it can continue to work and collect taxes, which will then be transformed into the provision of infrastructure and social and economic services for the population.\u201d<\/p>\n<p><a href=\"https:\/\/www.facebook.com\/100064831985106\/videos\/564561348848978\/\"><b>video<\/b><\/a><\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. The president of the Confederation of Economic Associations, Agostinho Vuma, said this Wednesday (14-12) during the association\u2019s end-of-year briefing, that the macroeconomic environment in 2022 had shown a tendency to stagnate. This resulted from the rise in interest rates, which led the financial system\u2019s prime rate to reach 22.6% in December. \u201cIn [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":30990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,18],"tags":[233,281,283],"class_list":["post-30991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-video","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mozambique: \u201cMacroeconomic environment stagnated in 2022, but better is expected for 2023\u201d - Mozambique<\/title>\n<meta name=\"description\" content=\"The president of the Confederation of Economic Associations, 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