State Business Sector records historic profits of 277 million escudos in 2023 and reduces fiscal risk - report

Praia, July 24 (Inforpress) – Today Ministry of Finance report that in 2023, the Public Business Sector recorded, a positive net result of 277 million escudos, reflecting "a robust recovery and reduction in fiscal risk".

The document from the State Business Monitoring Unit (UASE) states that 33 SPE companies were analyzed based on last year's financial statements.

The results indicate a consistent recovery, reflected in a positive net result of 277.07 million escudos, “an impressive leap” compared to losses of 1.15 billion in 2022 and 4.23 billion in 2021.

Furthermore, the wealth created by the sector increased by 7.5%, reaching 13.68 billion, which contributed to the positive variation in EBIT by 94.3%, reaching 3.45 billion.

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