Mozambican budget for 2019 includes a deficit of US$ 1.314 billion

12 September 2018

The Mozambican State Budget for 2019 includes a deficit of 80 billion meticals (US$1.314 billion), according to a bill approved on Tuesday in Maputo by the Council of Ministers.

The bill, as presented by Cabinet spokesman Augusto Fernando, Deputy Minister of Mineral Resources and Energy, includes expenditure in the amount of 324 billion meticals and revenues of 244 billion meticais.

The State Budget approved for 2018 outlines expenditure in the amount of 302.9 billion meticais, and the budget due to be presented to parliament for next year includes the additional expenditure of 21.1 billion meticais .

Expenditure outlined in the proposed State Budget bill for 2019 includes 6 billion meticais (about US$97 million) to cover the cost of holding general elections.

At the same meeting of the Council of Ministers, the proposal for an Economic and Social Plan (PES) was approved, which, together with the State Budget, will be debated by the members this year at the eighth session of the Assembly of the Republic.

“PES 2019 is based on the following macroeconomic assumptions – economic growth of 4.7%, an annual average inflation rate of around 6.5% and exports of US$5.16 billion,” said the cabinet meeting’s final statement. (macauhub)