{"id":10495,"date":"2021-12-10T16:07:10","date_gmt":"2021-12-10T16:07:10","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=10495"},"modified":"2021-12-10T15:28:15","modified_gmt":"2021-12-10T15:28:15","slug":"mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9","title":{"rendered":"Parliament to debate 2022 state budget aiming to grow GDP by 2.9%"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Mozambican parliament this Friday is due to debate the Economic and Social Plan and State Budget for 2022, which aims to \u201cachieve gross domestic product (GDP) growth of 2.9 percent,\u201d reads the document delivered to MPs.<\/p>\n

This is a more ambitious projection than the 1.5 percent growth forecast for this year and is \u201cinfluenced by commodity prices on the international market,\u201d and by the progress of vaccination against covid-19.<\/p>\n

The government has set a target of 5.3 percent average annual inflation, wants to \u201creach US$5.203 billion (4.596 billion euros) in exports of goods,\u201d and to set up net international reserves for six months of imports of goods and services.<\/p>\n

The government expects donations to rise 2.5 times, from US$514.8 million (454 million euros) in 2020, a figure similar to that projected for the current year and which jumps to US$1,316 billion (1.162 billion euros) projected for 2022, with donations for special projects and programmes showing the biggest rises.<\/p>\n

A budget deficit equivalent to 13.5 percent of GDP is forecast, higher than in previous years (12.7 percent in the 2020 accounts and 9.1 percent forecast for 2021).<\/p>\n

An increase in the deficit of the goods account is anticipated, which \u201cstems from the notable increase in imports, especially from large projects, reflecting the implementation of the Coral Sul Project in the Rovuma basin\u201d.<\/p>\n

This is the floating platform led by oil company Eni, in transit from shipyards in South Korea and which in January is expected to be installed off the coast of Cabo Delgado to start gas exploration during the year.<\/p>\n

However, not all gas projects are moving forward: violence in Cabo Delgado has paralysed Total\u2019s onshore project and this is reflected in a $535 million (\u20ac472 million) drop in Foreign Direct Investment (FDI) projected for 2022 compared to 2021.<\/p>\n

\u201cThe projection for 2022 anticipates a net inflow in the amount of $3.189 billion (\u20ac2.816 billion),\u201d with the fall in FDI \u201clargely explained by the change in the previous course of part of the direct investment projects in the northern part of the country,\u201d the budget proposal reads.<\/p>\n

In nominal terms, the draft budget provides for 298.916 million meticais (4.1 billion euros) in State revenues, as compared to 450.576 million meticais (6.2 billion euros) in expenditure.<\/p>\n

The document said that Mozambique\u2019s foreign debt \u201ccontinues to be above the recommended levels for low-income countries and is over-indebted.<\/p>\n

According to the document, \u201cpublic debt rose from US$12.37 billion (\u20ac10.93 billion) in 2019 to US$12.92 billion (\u20ac11.41 billion) in 2020,\u201d 78 percent of which is external debt.<\/p>\n

The increase explained \u201cmainly by the IMF disbursement of $308.9 million\u201d for the country to cope with the impact of Covid-19 and by a \u201cworsening of domestic debt driven by the increase in domestic securities financing (treasury bills and bonds) by about 47%.\u201d<\/p>\n

The majority of the debt is in the hands of multilateral creditors (37%), bilateral creditors (35%) and holders of Mozam 2032 Eurobonds (7%) \u2013 derived from the hidden debts process.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Mozambican parliament this Friday is due to debate the Economic and Social Plan and State Budget for 2022, which aims to \u201cachieve gross domestic product (GDP) growth of 2.9 percent,\u201d reads the document delivered to MPs. This is a more ambitious projection than the 1.5 percent growth forecast for this year […]<\/p>\n","protected":false},"author":84,"featured_media":10493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[233,281,283],"class_list":["post-10495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nParliament to debate 2022 state budget aiming to grow GDP by 2.9% - Mozambique<\/title>\n<meta name=\"description\" content=\"The Mozambican parliament this Friday is due to debate the Economic and Social Plan and State Budget for 2022, which aim ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parliament to debate 2022 state budget aiming to grow GDP by 2.9%\" \/>\n<meta property=\"og:description\" content=\"The Mozambican parliament this Friday is due to debate the Economic and Social Plan and State Budget for 2022, which aim ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-10T16:07:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/12\/img-61b36f2d4993e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"664\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Parliament to debate 2022 state budget aiming to grow GDP by 2.9%\",\"datePublished\":\"2021-12-10T16:07:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9\"},\"wordCount\":483,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/12\/img-61b36f2d4993e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-parliament-to-debate-2022-state-budget-aiming-to-grow-gdp-by-2-9\",\"name\":\"Parliament to debate 2022 state budget aiming to grow GDP by 2.9% - 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