Thursday, April 16, 2015

Mozambique’s budget expenditure rises to US$6.315 billion in 2015

Mozambique’s State Budget proposal for 2015 provides for expenditure of US$6.315 billion, representing an increase of 5.5 percent over last year, Mozambican daily newspaper O País said Friday.
Despite the growth in budget spending, the government estimates that its share of gross domestic product (GDP) is 31.8 percent, against 40.7 percent last year, and expects to secure internal resources of US$4.738 billion, of which US$4.482 billion in revenues and US$256.1 million in domestic credit.In terms of external resources, there is the reduction in support from the group of donors, which accounts for 9 percent of the budget (US$570.7 million), against 9.8 percent in 2014 and increased borrowing, rising from 13.5 percent to 15.9 percent (US$1.006 billion).While donations will be reduced, external dependence is expected to increase from 23.3 percent to 25 percent, reflecting the increase in loans, with the budget deficit estimated at US$1.8 billion, or 11.1 percent of GDP against 10.6 percent of GDP in 2014.Overall, the weight of the economic and social sectors in the State Budget (OE) is 63.5 percent, which is equivalent to US$3.4 billion against US$2.7 billion in 2014 (52.7 percent), representing an increase of 10.8 percentage points.
The government will allocate US$1.248 billion to the education sector, or 22.8 percent of budget expenditure, against US$1.035 billion in 2014 (19.8 percent of the budget).For health, the expense is US$561.5 million (10.2 percent of the budget), an increase of 1.1 percentage points compared to 2014, when spending reached 9.1 percent (US$477.6 million) .The Infrastructure sector will have a budget of US$866.1 million (15.8 percent of the budget), representing an increase of 3.7 percentage points compared to last year (632.6 million meticais). Agriculture and Rural Development accounts for 9.1 percent of budget expenditure, US$497.9 million, an increase of 2.9 percentage points over the previous budget (US$324.6 million).The budget reduces the funds allocated to the central government, from 69 percent to 59.8 percent, increasing funding on a provincial level (17.8 percent to 23.2 percent), as well as on a district level (11.8 percent to 23.2 percent) and on a municipal level (1.4 percent to 1.6 percent).
The State Budget proposal for 2015 will be voted on before the end of April by the Mozambican parliament.

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