Mozambican government projects GDP growth of 8 pct in 2014

1 August 2014

Mozambique’s Finance Minister, Manuel Chang said in the country’s parliament, in Maputo, that the government’s revised budget for 2014 is based on a real rate of GDP growth of around 8 percent, average annual inflation of 5.6 percent and real depreciation of the metical against the world’s main currencies that is able to boost domestic exports.

On Thursday the Mozambican parliament approved the revised budget for 2014, which rose from 241 billion meticals to 249.1 billion meticals (around US$8.2 billion), according to Mozambican news agency AIM.

In terms of percentage of Gross Domestic Product (GDP), the budget rose by 45 percent to 46.6 percent.

The approved budget proposal also includes budget execution figures from January to May of this year in which state revenues totalled 63.7 billion meticals or 43.2 percent of the target for the year, a rise of 4.4 percentage points against the same period of last year. (macauhub/MZ)