Ver Angola

Economy

Covid-19: Government provides 488 million kwanzas to support SMEs

The government will make available around 488 billion kwanzas for "minimum maintenance of activity levels of micro, small and medium enterprises in the productive sector" due to covid-19, was announced this Thursday.

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This is one of the measures adopted this Thursday by the Economic Committee of the Council of Ministers, to which Lusa has had access, and which aims to alleviate the effects of the pandemic and the sharp reduction in the price of a barrel of oil on businesses and families.

In addition to this financial support, the Government also wants to ease the pressure' on the cash flow of companies by extending the deadlines for the settlement of tax obligations.

Similarly, the payment of social security contributions for the second quarter of 2020 will be deferred for payment in six monthly instalments during the months of July to December, without formation of interest.

It is also planned to accelerate the transition from informal activity to the formal sector "with the urgent implementation of the actions foreseen in the Programme for the Conversion of the Informal Economy", as well as the removal of administrative procedures that affect the process of setting up companies.

The "minimum mobility of workers during the emergency phase will also be ensured, through the accreditation of staff from private companies whose work activity is not suspended".

A package of measures aimed at families was also approved, which includes financial resources for the purchase of goods from the basic basket and authorisation for companies to transfer social security deductions to workers' wages.

Angola has already registered two deaths out of a total of 19 positive cases of covid-19, and is fulfilling the first phase of the state of emergency, which ends at 23:59 on 11 April since 27 March.

The National Assembly should give its approval this Thursday to the request of the President, João Lourenço, who requested the extension of the state of emergency, for another 15 days, due to the "imminent situation of public calamity" due to the new coronavirus.

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