Mozambique: Exports expected to rise by 8.9 percent in 2009

29 September 2008

Maputo, Mozambique, 29 Sept – Goods exports from Mozambique in 2009 are expected to total US$2.926 billion, a rise of 8.9 percent on the amount projected for this year, said the country’s Finance Minister, Manuel Chang in Maputo Saturday.

Speaking to the press at the end of a Council of Ministers session, which usually takes place on Tuesdays but took place Saturday due to the head of state’s schedule, Chang said that, under the terms of the 2009 Economic and Social Plan, That had just been approved by the government, Mozambique would have enough net foreign reserves to fund five months of imports of goods and services, excluding mega-projects.

He also said that the main objectives of the Economic and Social Plan (PES) were economic growth of around 7 percent and keeping annual inflation at below 8 percent.

The government, via the PES, is also focusing its efforts on creating increasingly favourable conditions for investment, safeguarding proper environmental management and improving the quantity and quality of public services in the areas of Education, Health, water and sanitation, roads and energy.

At the meeting, the Council of Ministers also analysed and approved the State Budget for 2009, a proposal which, similarly to the pES, will now be submitted to parliament.

The Finance Minister said that the budget was expected to boost growth patterns, ensure stability of the Consumer Price Index and promote competitiveness and diversification of exports.

At the same session the Government approved the law creating the Simplified Tax for Small Tax Payers (ISPC), a direct tax that is applied to individuals or companies that carry out small-scale agricultural, industrial or commercial activities, including services, in the country.

This tax aims to reduce the cost of complying with tax obligations of these taxpayers, and reduce the costs of auditing small-scale taxpayers.

This measure, according to Chang, aims to encourage individuals operating in the informal sector to move over to the formal sector. (macauhub)