Maputo, Mozambique, 22 March – Mozambique’s tax revenues increased in 2005, but for the second year in a row failed to reach government targets, the country’s finance minister, Manuel Chang said Monday.
Speaking in Maputo at the opening of the national Seminar on Execution of Tax Policy, Chang said that despite revenues increasing by 30 percent to 21.617 billion contos (US$810 million), it fell below the expected figure of 22.226 billion contos.
According to Mozambican daily Notícias, Chang did not give reasons for the target not being reached, and said only that this year tax authorities should “double their efforts to increase efficiency in collecting public revenues.”
Last year, Mozambique’s economy grew 7.5 percent, a trend expected to be maintained over the next few years, according to economic observers.
In its latest report on Mozambique, the International Monetary Fund (IMF) said that the Mozambican economy was “strong” and had good prospects for 2006, with gross domestic product growth increasing to 8 percent, “reflecting strong growth in construction, industry and mega-project activity,” such as the Mozal aluminum factory and the Cahora Bassa hydroelectric dam. (macauhub)