Filipe Nyusi promulgates the State Budget for next year

The Presidency of the Republic issued a statement this Wednesday, announcing that the President of the Republic, Filipe Nyusi, promulgated the Law that approves the Economic and Social Plan and the State Budget for 2022, as well as the Law of Protection Against Fires.

The note from the presidency stresses that the above laws approved by the Assembly of the Republic "do not contradict the Fundamental Law" of the Mozambican State.

Recall that last week, only Frelimo voted in favor of the Law that approves the Economic and Social Plan and the State Budget for the year 2022, with Renamo and the Mozambique Democratic Movement (MDM) voting against.

The State Budget and the Economic and Social Plan estimate that the country will "achieve a Gross Domestic Product (GDP) growth of 2.9%".

Nyusi's Executive aims to reach $5,203 million in exports of goods and to build up Net International Reserves for six months of imports of goods and services.

Government estimates are for donations to grow 2.5 times, from $514.8 million calculated in 2020, - a similar figure to that projected for this year - and jumping to $1,316 million projected for next year, with donations for special projects and programs showing the largest increases.

The Executive projects a budget deficit equivalent to 13.5% of GDP, higher than in previous years (12.7% in the 2020 accounts and 9.1% forecast for 2021).

An increase in the goods account deficit is anticipated, which "stems from the notable increase in imports, especially from large projects, reflecting the implementation of the Coral Sul Project in the Rovuma basin."

Source: sapo


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