Mozambique: Chapo promises to slim down government - AIM report
Government delivers 2016 amending state budget to parliament today
4:39 CAT | 11 Jul 2016
File photo / Mozambican parliament
The government is to deliver the amending the state budget for 2016 to parliament today, with cuts to spending in the region of 24 billion meticais proposed.
Minister of Economy and Finance Adriano Maleiane says the revision is needed because of increased debt service costs.
The government had predicted growth of 7 percent in 2016, but forecasts now indicate 4.5 percent, which means that revenue will also fall. State revenues for the year are predicted to decline from 25.9 percent to 24.1 percent of GDP.
Minister Maleiane said that one of the ways to stabilise the economy was to increase production.
Source: Rádio Moçambique
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