Meteorologia

  • 19 SEPTEMBER 2024
Tempo
17º
MIN 17º MÁX 26º

Mozambique's revenue rose more than 12% to mzn1.06 billion in March

State current revenues grew by 12.2% in the first quarter in Mozambique, in year-on-year terms, to 73 billion meticais (1.06 billion euros), driven by the increase in tax collection, according to official data.

Mozambique's revenue rose more than 12% to mzn1.06 billion in March
Notícias ao Minuto

08:45 - 14/05/24 por Lusa

Economia Moçambique

According to the economic and social assessment of the implementation of the State Budget from January to March, from the Ministry of Economy and Finance and which Lusa had access to today, this represents an achievement equivalent to 19.3% of the forecast for the whole of 2024, whose revenue is estimated by the Government at 377,974 million meticais (5,487 million euros).

Of the total revenue collected by the State in the first quarter, 90% relates to taxes collected, in the amount of 65,922 million meticais (957.4 million euros), which increased by 13.7% in year-on-year terms, but with an execution rate, against the forecast for the whole year, of 18.9%.

The Value Added Tax (VAT) on imports and internal operations yielded the State, in the first quarter, 28,282 million meticais (410.7 million euros), up 14.7% compared to the same period of 2023.

However, the report recalls that the value of gross VAT collected until the end of March was 21,571 million meticais (313 million euros), having deducted almost 3,564 million meticais (51.7 million euros) in refunds of that tax.

The Corporate Income Tax, paid by companies, was the one that grew the most, 31.8%, to 15,609 million meticais (1,308 million euros).

Mozambique's gross domestic product (GDP) grew by 5.01% in 2023, against 4.16% in 2022, with the government's forecast of 5.5% in 2024.

Also Read: Mauritius accounted for almost half of foreign investment in Mozambique (Portuguese version)

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