africa Economy Finance Mozambique

Mozambique: Parliament approves state budget for 2019

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Mozambique’s parliament approved its state budget for 2019, worth 1.4 billion meticals (€20.4 million), 100 million meticals (1.4 million) less than this year’s expenditure.

 

Mozambique’s state budget for next year, agreed by consensus, envisages expenditure worth 169 million meticals (€2.4 million) for salaries and remunerations.

The bulk of the budget for next year goes to “other expenses with personnel” which will receive 767 million meticals (€10.9 million), while 218 million meticals will be allocated to goods and services.

Earlier this month, the forum that monitors the Mozambican budget called for the country’s parliament, to reject the State Budget for 2019, saying it increases the public debt burden and contains omissions.

Mozambican civil society organisations monitoring public spending are concerned about rising debt burdens from just over 33 billion meticais (€474 million) this year to 35 billion meticais (€507 million) in 2019.

The IMF suspended financial aid to Mozambique in 2016 following the discovery of debts secretly endorsed by the previous Mozambican government on behalf of public companies linked to fishing and maritime safety.

Source: Lusa via Club Of Mozambique

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