2016 Amending budget: Minister Maleiane goes to parliament

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2016 Amending budget: Minister Maleiane goes to parliament

10:07 CAT | 18 Jul 2016

File photo / Mozambique's minister of Economy and Finance, Adriano Maleiane

The Minister of Economy and Finance, Adriano Maleiane, will go to parliament today for a joint hearing of the Commissions of Constitutional Affairs, Human Rights and Legality; Planning and Budget; and Public Administration and Local Government, on the government’s proposed amending budget for 2016.

The proposal of the amending budget submitted to parliament by the government, which outlines cuts in the order of 24,000 million meticais in capital expenditure and on goods and services, arises from the austerity policy deemed necessary in the light of the recently acknowledged public debt service requirements.

Under the proposals discussed by parliament on Friday, total 2016 state expenditure will be cut from 246 billion to 242 billion meticais. The official GDP growth forecast is also being reduced, to 4.5 percent from the initial seven percent.

Source: Rádio Moçambique