MOZAMBICAN GOVT FACES REVENUE SHORTFALL

Government revenue in the first half of this year only covered 41 per cent of the amount planned for the entire year, according to figures presented to Mozambique’s Council of Ministers (Cabinet).

Government Spokesman and Deputy Health Minister Mouzinho Saide told the media after Tuesday’s Council meeting that revenue had come to 72.3 billion meticais (about 1.03 billion US dollars) compared with total public expenditure of 95.2 billion meticais.

Saide added that “it is estimated that the rate of growth of GDP will be 4.5 per cent and the rate of inflation will be 10.12 per cent”.

He said a report on compliance with the government’s Economic and Social Plan (PES) for 2016 would shortly be submitted to the country’s parliament, the Assembly of the Republic.

The rate of growth during the first six months of the year was the equivalent of 4.0 per cent, and Saide claimed that “the overall performance indicators for the first half of the year when compared with the PES suggest that the targets will be reached”.

Saide told reporters that the National Disaster Management Institute (INGC) had provided food and support to families who were the victims of strong winds in the southern province of Maputo.

He revealed that 270 houses had been destroyed, stressing that this had aggravated the already existing problems of food insecurity in that part of the country. Almost the entire south and centre of Mozambique has been affected by the severe drought brought on by the El Nino phenomenon.

Source: NAM NEWS NETWORK