Mozambique central bank cuts key rate for seventh meeting in a row
Mozambique reduced its budget deficit in 2021
1:54 CAT | 31 May 2022
Image: Wkimedia Commons
Mozambique reduced its budget deficit (before donations) from 7.9% to 4.8% of gross domestic product (GDP) in 2021, according to the General State Account published yesterday by the government.
“Fiscal policy for 2021 focused on actions in the tax area with a view to increasing and diversifying the levels of revenue capture and rationalising public spending given the limited resources,” the document reads.
Between 2020 and 2021, state revenues grew from 235 billion to 266 billion meticais, a faster pace than the increase in expenditure, from 312 billion to 319 billion meticais.
The General State Account for 2021 is published in two files on the Ministry of Economy and Finance website.
Last year, the Mozambican economy recorded growth of 2.16%, after contracting 1.23% in 2020 as a result of Covid-19 restrictions.
Source: Lusa
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