Ver Angola

Economy

Pandemic relief measures cost Social Security 29 billion kwanzas per month

The relief measures adopted by the executive to help national companies overcome the difficulties caused by the covid-19 pandemic will cost the National Social Security Institute (INSS) 29 billion kwanzas per month.

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According to the Minister of Economy and Planning, Sergio Santos, from May 10 the INSS will no longer receive 29 billion kwanzas of business contributions. According to the Government's accounts, of the amount that companies have to deduct to Social Security, eight per cent will be attributed to the companies themselves and three per cent to workers.

Cited by Angop, the holder of the Economy and Planning portfolio also revealed that this measure will be in force during the next three months.

Sérgio dos Santos also said that, in terms of tax relief for companies, companies that import goods from the basic basket are being prioritized, revealing that 27 companies asked for this tax relief - which cost the government 215 million kwanzas of VAT.

Victor dos Santos, Minister of Industry and Trade, also spoke to the press and revealed that the country has food for the next three months.

The minister left the assurance that an action plan for rural trade is being put in place: "The fisheries and trade sectors have a major role to play in getting the projects underway".

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