Mozambique: State revenues up 6.4% to over €968M in Q1

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Mozambique: State revenues up 6.4% to over €968M in Q1

1:51 CAT | 08 May 2019

Photo:Lusa

Despite natural disasters, the Mozambican government collected just over 49 billion meticais (EUR 968.7 million) in revenues in the first quarter of this year, an increase of 6.4% compared to the same period last year, it was announced this Tuesday .

Mozambique’s Council of Ministers spokeswoman Ana Comoana said at a press conference that state expenditure was more than 60.2 billion meticais (EUR 842 million euros) from January to March this year, compared with 54.3 billion meticais (EUR 757 million) in the same period of last year – an increase of 7.3%.

“The Government considers this level of implementation acceptable, which shows a balance compared to the same period last year,” Comoana said.

Budget execution in the first quarter took place in an adverse economic environment characterised by natural disasters Cyclone Idai in the centre of the country and Cyclone Kenneth in the north.

Source: Lusa