Mozambique: Boost the national economy to reduce external dependence – Tomaz Salomão

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Mozambique: Boost the national economy to reduce external dependence – Tomaz Salomão

1:29 CAT | 05 Apr 2022

Screen grab: UNISAVE

Tomaz Salomão, former Minister of Economy and Finance (1994 to 2000) and former executive secretary of the Southern African Development Community (SADC)) (2005-2013), says that the resumption of direct International Monetary Fund (IMF) support of the state budget should be seen as an opportunity to increase Mozambique’s national production, with the achievement of economic independence in mind.

Tomaz Salomão says that the country must work towards generating more resources for the state coffers, reducing the budget deficit and improving the management of external debt.

Salomão was speaking in Xai-Xai on Friday (01-04), during the opening of the academic year at UNISAVE, under the motto “Regional Integration in the SADC and the Imbalances of Development Levels of the Countries in the Region”.

“Generating more resources for our state, reducing our trade and budget deficit, and improving the management of our debt, with more prudence obviously, we have already learned enough. To improve the national accounts, promote the development of micro, small and medium-sized companies and reduce external dependence. Yes, today the IMF is there, but tomorrow they might get angry again and leave. In the long run, we have to learn how to live without them. With them, whether or not we are friends, we resumed the program again. Will we continue to depend on the will of this or that partner, some with good intentions and some not?” he asks.

Salomão reiterated the need for greater investment in agro-industry, in order to leverage the national economy.

Watch the full class streamed live by UNISAVE below.

Source: Rádio Moçambique