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Economy
Business fell 2.2% in July this year
28, Oct 2022
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The turnover decreased by 2.2% in July 2022, compared to the month of June, according to the National Institute of Statistics. The Economic Activities Index in the period under analysis reveals that the areas of employment and remuneration recorded growth of 1.0% and 0.2%.
In July, Mozambique reached a new record in price increases. The value is in the order of 11.77%. The city of Nampula was the most expensive in the areas of transport, food and non-alcoholic beverages.
The increase in the cost of living arose as a result of the constant rise in fuel prices. According to the central bank, this factor directly affected the national economy.
The idea is now supported by the National Statistics Institute, through the Economic Activities Index for the month of July 2022. The report reveals a drop in business volume in the period under review.
“The results of the Economic Activities Index for the month of July 2022, when compared to the previous month, show a decrease in the turnover index by 2.2%. The employment and remuneration indices registered growth of 1.0% and 0.2%, respectively”, reveals the National Institute of Statistics (INE).
The negative change in turnover, according to the National Statistics Institute, was due to the decrease in the sectors of Industrial Production (7.7%), Electricity and Energy (1.8%) and Other Non-Financial Services ( 0.1%).
On the contrary, the sectors of Accommodation, Restaurants and Similar and Transport and Storage grew by 9.2% and 1.8%, respectively.
INE argues that the slight growth in employment in July was the result of the positive change in the indicator in the Industrial Production (7.4%) and Transport and Storage (0.1%) sectors.
In the same period, the commerce sector registered a slight decrease of 0.6%, while the sectors of Accommodation, Restaurants and Similar and Other Non-Financial Services registered a stabilization
Comparing the global indices for the month of July 2022 with those of the same period of 2021, the turnover and remuneration indices recorded growth of 7.9% and 10.0%, respectively, while the employment index registered a negative change. of 2.8%.
SOLAR ENERGY PRODUCTION HAS GROWN IN THE PAST FIVE YEARS
Solar energy was the fastest growing source of electricity in Mozambique from 2017 to 2021, announced the National Statistics Institute (INE).
Annual production grew from 1.5 to 69 gigawatts between 2017 and 2021, according to the Energy, Gas and Oil Basic Indicators bulletin. Even so, the energy obtained with solar panels represents less than 1% of the electricity produced in the country, which continues to be centered on the Cahora Bassa dam – responsible for 83%.
The Metoro solar plant, the largest in the country, was inaugurated in April, with 125,000 panels made in China, a capacity of 41 megawatts (MW) and capable of injecting up to 69 gigawatts/hour per year into the Electricidade de Moçambique grid ( EDM).
Another power plant will be built in the district of Dondo, province of Sofala, next to the city of Beira, with a capacity of 30 megawatts (MW).
The project is budgeted at 47.3 million euros and is the result of a partnership between EDM, with 25%, and the French company Néon, with 75%.
The project was financed by the French Development Agency, with a loan of US$40 million and the remainder by the Mozambican government.
According to INE (citing data from EDM), the rate of access to electricity has been rising every year and in 2021 electricity reached 38.6% of the Mozambican population.
In the same year, the public company EDM earned 3.5 million megawatts/hour across the country, almost half in Maputo Province and City.
The Mozambican government has set a goal of achieving universal access to energy by 2030.
It is planned to electrify around 300 villages using hydropower, to which other solar energy projects should be added, according to data from the Ministry of Mineral Resources and Energy.
Source: O país
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