Mozambique: State collects more than €1.3B in H1

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Mozambique: State collects more than €1.3B in H1

10:22 CAT | 12 Aug 2020

File photo: DW

The Mozambican state collected revenues of just over 110 billion meticais (€1.3 billion) in the first half of 2020, an increase of 5.4% over the same period last year, the government said on Wednesday.

The summary was analysed on Tuesday by the cabinet and shows that from January to June total state spending grew 2.0%.

Average inflation stood at 2.81% in the first quarter of this year against 3.83% in the same period last year and the state had net international reserves capable of covering six months of imports of goods and services compared to 5.8 months initially projected.

The figures, which will be submitted to parliament, said that the government met only 42.7% of the 344 indicators foreseen in the Economic and Social Plan in the first half of this year.

The missed targets were due to the negative impact of the new coronavirus, the document pointed out.

Source: Lusa