Benguela: The Angolan Executive has approved an urgent package of financial, fiscal, and social measures to mitigate the impacts of the floods in Benguela province, caused by the overflowing of the Cavaco River. The announcement was made by the Minister of State for Economic Coordination, Jos© de Lima Massano, at the end of the 1st Extraordinary Session of the Economic Commission of the Council of Ministers, chaired by the President of the Republic, Joo Louren§o.
According to Angola Press News Agency, the measures are contained in a draft Presidential Decree, in the final stages of publication, which aims to support families and businesses affected by the calamity. Among the main actions, the creation of a 30 billion kwanzas financing line stands out, intended for the recovery of economic activity.
Jos© de Lima Massano stated that the mechanism will allow companies to replenish stocks and acquire equipment, with an annual interest rate of 7.5% and a grace period of up to 12 months. For the acquisition of equipment, beneficiaries will have one year without payment of principal and interest, followed by a 36-month period for repayment. For raw materials, the grace period will be 45 days, with repayment within 90 days.
In the fiscal plan, the Executive decided to postpone the payment of taxes for 90 days and extend the deadlines for settling tax debts to 120 days. In the area of social security, companies will benefit from an exemption, for three months, from the 8% employer contribution, a cost that will be borne by the system, with the aim of preserving jobs.
Although motivated by the floods in Benguela, the measures will be extended to companies affected by calamities in other regions of the country, namely in the central and southern zones. The government official praised the solidarity mobilization of citizens and institutions from various provinces, which have supported the affected populations.
'We have witnessed a strong wave of solidarity, with contributions coming from various parts of the country,' he said. The Executive assures that it will continue to monitor the evolution of the situation on the ground, in coordination with the National Bank of Angola, with a view to strengthening support measures for families and the affected business sector.
