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No tax hike to solve Mozambican debt crisis – Maleiane
1:55 CAT | 13 May 2016
Folha de Maputo (File photo) / Minister of Economy and Finance Adriano Maleiane
Minister of Economy and Finance Adriano Maleiane has promised the government will not raise taxes to solve the issue of public debt in Mozambique.
Speaking in Nampula, Maleiane said that he considers the concerns of Mozambicans legitimate, and that the executive is studying better ways to use taxes to boost the national economy.
The public debt scandal has already caused the cancellation of an IMF mission to Mozambique and the suspension of aid by several partners.
There is some good news on the horizon however, with the G14 state budget donor group saying it is open to resuming financing provided reforms and measures relating to transparency, stability and inclusive growth are undertaken.
Source: Folha de Maputo
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with base rates increasing in a fruitless attempt to counter imported inflation (useless when there is little flexibility to allocate your local currency in goods and services without a high proportion of imputed content) the last thing you need is higher taxes unless the target is ensuring that consumption and investments grind to a standstill