Nyusi urges private sector to turn threats into opportunities

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Nyusi urges private sector to turn threats into opportunities

1:26 CAT | 29 Jul 2016

Folha de Maputo / President Filipe Nyusi

President of Mozambique Filipe Nyusi yesterday challenged the private sector to identify and implement creative solutions to turn weaknesses and threats into new development opportunities for the country

Nyusi, quoted by AIM, was speaking at the opening of the XIV Annual Private Sector Conference (CASP) in Maputo, titled “Challenges and prospects for domestic production in the current economic situation”.

According to President Nyusi, Mozambique faces economic, social and political challenges that constitute a test for everybody. He went on to say that: “It is necessary to identify and implement bold and creative solutions to transform existing weaknesses and threats in new windows of opportunity.”

The economic environment has been characterised as the result of a weak productive base where consumption exceeds production capacity, leading to structural problems with the trade balance.

The country’s economy is also facing a decline in sources of funding and delays in promised disbursements, as well as increased external debt and falls in the price of major export products.

Source: Folha de Maputo