Ver Angola


Entrepreneurs dissatisfied with economic relief measures

The Association of Angolan Entrepreneurs (AEA) warned this Thursday that many companies for years have "lived only to survive" due to "major cash flow problems", considering that economic relief measures due to the impact of covid-19 "should not help much".

: Osvaldo Silva/AFP
Osvaldo Silva/AFP  

The companies "are able to solve the treasury issue of the month and live with this monthly treasury because we have been in crisis for about four years and it is not now with these relief measures that they will solve the situation," said the president of the AEA, Jorge Baptista.

The association leader admits that although some economic relief measures, prepared by the Government "may mitigate" the concerns of entrepreneurs and businessmen in "general will not have great reflexes".

"I have said, insistently, that it is not measures by decree or gizadas to mitigate the economic situation that companies are going through today because of the global pandemic that is there that we will solve the issue of the difficulties that companies are presenting today", he stressed.

For the businessman too, who reacted to the set of "immediate measures" adopted by the government in response to the effects of the covid-19 pandemic on businesses and families, the authorities "need to do much more".

Because, he observed, "there is no point in taking measures to forgive payments or some moratorium on paying taxes or tax obligations that companies have with the state that will resolve the issue of keeping them alive".

The granting of a twelve-month tax credit for companies on Value Added Tax (VAT) payable on the import of capital goods and raw materials for the production of basic basket goods are some of these measures.

The extension to 29 May 2020 as the deadline for final settlement of the industrial tax obligations of group B companies and to 30 June 2020 for group A companies are also among the tax relief measures for the productive sector.

These provisions are expressed in the "Economic Relief Portal in Response to Covid-19", prepared by the Government and under the management of the Ministry of Economy and Planning

According to the portal, the aim of tax relief is "to relieve the pressure on the treasury with tax obligations".

According to Jorge Baptista, companies today have "serious treasury problems, they can hardly finance their business projects and without financing it is impossible to project companies into the future".

That's why "there's a need for consultation with the real sector, with the companies that really need it, to know what they need in order to find credible alternatives that can solve the problem of maintaining companies".

"If not, we will see the closure of many businesses, unemployment for many families and obviously it will only aggravate the sad economic situation in the country", he noted.

Although he defends the need to evaluate the "effectiveness and efficiency" of these measures after the coronavirus, he insists, however, that they "should not help much" because in the current context the companies "are not able to pay wages".

"Because we have been in crisis for about four years now and it is not with these relief measures that we will solve the situation," he said.

This Thursday was the sixth day of the second phase of the state of emergency, with 19 positive cases of covid-19, 12 of which were active, two deaths and five recovered.

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