The Mozambican state’s current revenue grew by 9.8 per cent in the first half of the year, to more than 146.474 billion meticals (2.133 billion euros), driven by an increase in tax collection, according to figures available to Lusa last week.
According to the Ministry of Economy and Finance’s economic and social balance of the implementation of the State Budget from January to June, this is an achievement equivalent to 42% of what was expected to be collected in current revenue in 2023, estimated by the government for the whole year at almost 349,113 million meticals (5,000 million euros).
Of the total revenue collected in the first half of the year, 90.3 per cent relates to taxes collected in that period, totalling more than 132,488 million meticals (1,930 million euros).
Value Added Tax (VAT) was the highest earner for the state in the first half of the year, with 33,717 million meticals (491 million euros), a fall of 2.3 per cent compared to the same period in 2022 and equivalent to just 36.7 per cent of the estimate for the whole year, six months on.
The performance of this tax, the report also explains, is the result after deducting 6,662 million meticais (97 million euros) in VAT refunds.