Mozambique: State revenue from concessions falls in Q1

Login

Register

http://www.clubofmozambique.com/

Mozambique: State revenue from concessions falls in Q1

2:50 CAT | 27 May 2024

File photo: TVM

State revenue from concessions fell 3.6% year-on year in the first quarter of this year to almost 1,603 million meticais (€23.1 million), according to official data accessed by Lusa today.

According to data from the Ministry of Economy and Finance, concessions yielded almost 1,662 million meticais (€23.9 million euros) to the Mozambican state from January to March 2023.

The concession relating to the port of Maputo continues to yield the most (32.8% of the total), with 526.1 million meticais (€7.5 million) in the first three months of the year, an increase of 76.1% compared to the same period in 2023.

The Cahora Bassa Hidroeléctrica concession yielded 458.3 million meticais (€6.6 million), which represents 28.6% of total revenues, an increase of 3.1% compared to 2023.

Revenue from concessions fell from 2.6% of the state’s total revenue in the first quarter of 2023 to 2.2% this year.

From 2022 to 2023, the Mozambican state’s overall revenues from these concessions increased by 40.1% to more than 5,279 million meticais (€76 million).

According to the Ministry of Economy and Finance’s economic and social balance of the execution of the State Budget from January to December, the weight of concessions’ contribution to total state revenue in 2023 was 1.6%, whereas in 2022 it did not exceed 1.3%, amounting to just over 3,768 million meticais (€54.3 million).

Source: Lusa