Mozambique's public debt stood at 972.4 billion meticais last year, a figure that represents an increase of 5.1% compared to the previous year, the government announced.

According to the spokesperson for the Council of Ministers, despite this growth, "as a percentage of Gross Domestic Product (GDP) there has nevertheless been a radical improvement in debt sustainability parameters, with the results of the implementation of the medium-term public debt management strategy".

Speaking yesterday, Tuesday (23), at another ordinary session of the Council of Ministers, Inocêncio Impissa, assured that the internal debt is being well managed by the Bank of Mozambique and the Ministry of Economy and Finance (MEF).

"I think that the two entities usually interact to find the best alternative to keep it sustainable, both in the budget and in the economic life of the country," he said.

Meanwhile, with regard to state spending for 2023, he said that the country recorded 468.2 billion meticais, of which 83.4% was financed from internal resources.

In addition, Inocêncio Impissa pointed out that revenue collection in 2023 would be around 326 billion meticais, which represents 30% of GDP compared to 28% in 2022.

"This performance reflects the impact of tax reforms aimed at broadening the tax base, diversifying sources of revenue collection and improving the efficiency of tax administration," he said.