Home Economy Mozambique: Govt pays M19bn in arrears to contractor companies

Mozambique: Govt pays M19bn in arrears to contractor companies

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The Mozambican government has settled its debts paying around 19 billion meticais (US$300 million) to four thousand state creditors.

This includes the cases where the companies could not receive the transfers pending the Administrative Court approval.

The authorities stated such a move had been under consideration for some time as it would be beneficial for both parties and was also expected to build a strong relationship with the business sector.

“[The decision to] strengthen the relationship with economic agents by paying what was due to them to encourage companies to produce more and create jobs,” the Minister of Economy and Finance told the journalists.

Most of the money — 16 billion meticais — were owed by the central government bodies as well as three provincial ones.

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