Mozambique: Losses in company turnover may fall to 32%

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Mozambique: Losses in company turnover may fall to 32%

2:13 CAT | 17 Aug 2020

File photo: O País

Despite the shock of the coronavirus pandemic in the first half of this year and the significant slowdown in the level of business activity, Minister of Industry and Commerce Carlos Mesquita foresees a gradual recovery in the second half of this year, with billing losses falling from 65% to 32%.

The estimate surfaced during a webinar on “Exports vs Covid-19” promoted by the Ministry of Industry and Trade in partnership with the Ministry of Foreign Affairs and Cooperation, within the scope of the celebrations of the 40th anniversary of the Commonwealth of Southern African Countries (SADC).

Minister Mesquita also said that the volume of Mozambique’s external trade had, at US$12,096.7 million in 2019, remained broadly the same as the previous year’s US$ 11,956.5 million, a rise of just 1.2 percent.

By Edson Arante

Source: O País