Mozambique now exports energy to seven countries
Mozambique: Sovereign Fund proposal completed – Notícias
3:55 CAT | 30 Sep 2022
Image: Notícias
The Minister of Economy and Finance, Max Tonela, announced yesterday that the draft law creating the Sovereign Wealth Fund, an instrument providing for the adequate and transparent management of revenues resulting from the extraction of natural resources, is now complete.
“The Sovereign Fund proposal is already complete (…) and is being analysed by the Economic Council of Mozambique,” Minister Tonela announced at the end of a parliamentary hearing on three bills to be considered by the Assembly of the Republic.
The Sovereign Wealth Fund, in addition to helping to minimise the undesirable macroeconomic impacts resulting from an excessive inflow of revenues into the economy, is expected to discipline the use of these revenues and create conditions for their sustainable management.
READ: Sovereign Fund to manage Mozambique’s LNG riches takes shape – Bloomberg
Source: Notícias
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