Mozambique: Deal with creditors puts country on 'road to recovery' - Capital Economics
File photo / A view of Maputo
Mozambique’s prime minister Carlos Agostinho do Rosário said yesterday in Maputo that the government wanted to accelerate the channelling of mining and oil industry revenues to communities living in the areas of the projects.
“The government is committed to improving mechanisms to ensure greater speed in defining the percentage of revenues” destined to the population, Agostinho do Rosario said.
Speaking at the end of the parliamentary debate on the 2016 General State Account (CGE), the Mozambican prime minister pointed to the modernisation of the tax machinery as a way of increasing state revenues in order to sustain the country’s social and economic development programmes.
Rigorous management of public resources and spending, as well as profitability in the state’s business sector, were essential to raise financial resources for the country’s economic and social development, he added.
The prime minister said the government would strengthen compliance with the customs tariff and the tax code on specific consumption.
Consideration of the 2016 CGE closed yesterday and will be followed by the drafting of a Planning and Budgetary Commission resolution to be put to the vote on a date as yet unannounced.
The CGE recorded a revised revenue of 165,540 million meticais (EUR 2.1 billion) and revised expenditure of 243,358 million meticais (EUR 3,2 billion), resulting in a deficit of 77,817 million meticais (over one billion Euros).
In Mozambique, the General State Account is debated two years after its execution, due to difficulties in its compilation for later analysis and approval by the Administrative Court, which then endorses it to the parliament.Source: Lusa