About 448 billion kwanzas is the amount approved this Thursday, by the Economic Commission of the Council of Ministers, to finance the minimum maintenance of the activity levels of the micro, small and medium companies of the country's productive sector.

The measure, which is of an immediate nature, fits in with the Angolan Government's strategy to contain the economic effects caused by the pandemic of the new coronavirus (Covid-19), as well as by the sharp reduction in the price of a barrel of oil on the international market on companies and on the families.

According to the statement of the session, this action is also aimed at tax relief and relief in the payment of wages. The first will be done by extending the deadlines for its settlement, while the second, by deferring the payment of the social security contribution.

The document of the meeting led by the President of the Republic, João Lourenço, indicates that it is the deferral of the payment of the social security contribution for the II quarter of the current year and that it aims at paying six monthly installments from July to December 2020, without interest formation.

In this Thursday's session, the Angolan executive's economic team agreed to the removal of some administrative procedures that affect the process of setting up companies, such as the statistical registration and the application for the business license, for the exercise of certain activities.

The Economic Commission also endorsed the need to accelerate the transition from informal to the formal sector, with the urgent implementation of the actions provided for in the program for the conversion of the informal economy.

The 3rd ordinary session of the collegiate body of the President of the Republic, endorsed the assurance of the minimum necessary mobility of workers during the state of emergency phase, through the accreditation of the staff of private companies, whose work activity is not suspended.

With regard to households living under the threat of rising costs of basic goods, measures were taken to authorize private sector employers to transfer the discounted amount to social security, corresponding to three percent of their wages in April, May and June.

It was also recommended to companies in the energy and water sector not to interrupt the supply of water and electricity during the month of April of this year, as well as measures were taken to provide 315 million kwanzas to support the most deprived families. , with goods from the basic basket.

Regarding economically vulnerable families, the meeting that took place at the Talatona Convention Center, approved the beginning in May close to the first phase of the social cash transfer program.