Africa-Press – Mozambique. The Mozambican parliament approved today, in general, the Economic and Social Plan (PES) and the State Budget (OE) for 2022, with the Front for the Liberation of Mozambique (Frelimo), the ruling party, voting in favour, and Renamo and MDM, the opposition, voting against.
Frelimo made the PES and OE for next year possible, with 147 votes.
The Mozambican National Resistance (Renamo), the main opposition party, opposed the document, with 39 votes against, and the Democratic Movement of Mozambique (MDM) followed suit, with five votes against.
Parliament has yet to schedule voting on the specialty of the PES and OE.
The legal instrument approved on Friday foresees “a growth in the Gross Domestic Product (GDP) of 2.9%”.
This is a more ambitious projection than the 1.5% growth forecast for this year and which is “influenced by the prices of the main goods on the international market” and by the advance of vaccination against Covid-19.
The government sets a target of 5.3% for average annual inflation, seeks to achieve the US$5,203 million (€4,596 million) in exports, and build up Net International Reserves to six months’ of imports of goods and services.
The Mozambican executive forecasts that donations will grow by 2.5 times, from US$514.8 million (€454 million) accounted for in 2020, a similar amount to the projected for the current year and which jumps to US$1,316 million (€1,162 million) in 2022, with donations for special projects and programs showing the largest increases.
A budget deficit equivalent to 13.5% of the Gross Domestic Product (GDP) is expected, greater than in previous years (12.7% in the 2020 accounts and the 9.1% forecast for 2021).
An increase in the deficit in the goods account is anticipated, which “results from the notable increase in imports, especially by large projects, reflecting the implementation of the Coral Sul Project in the Rovuma basin”.
This is the floating platform initiative led by the oil company Eni, in transit from the shipyards in South Korea and which in January should be installed off the coast of Cabo Delgado to start gas exploration during 2022.
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