Mozambique has budget deficit of US$2.722 billion in 2014

20 March 2015

Mozambican state revenues in 2014 stood at 156.243 billion meticais, 102.1 percent of the amount predicted in the State Budget, while expenditure totalled 249.093 billion meticais, the country’s Economy and Finance Minister said Thursday in Maputo.

Minister Adriano Maleane also said preliminary data for the implementation of the budget for 2014 showed that spending was 83.2 percent of the projected figure, “reflecting the reduction of the external component of the financing,” and the deficit totalled 92.85 billion meticais (US$2.722 billion).

Maleane was speaking at the opening session of the 21st National Seminar on Public Expenditure which will assess the implementation of the state budget in the 2014 financial year and outline prospects for the current year.

The preliminary assessment of the performance of these indicators shows an average annual inflation of 2.56 percent in 2014 and GDP growth of 7 percent in the fourth quarter, he said, cited by Mozambican news agency AIM.

The macroeconomic projections made in the 2014 State Budget pointed to real growth of Gross Domestic Product (GDP) of 8 percent, an average annual inflation rate of 5.6 percent and an exchange rate policy that would increase competitiveness of exports. (macauhub/MZ)