{"id":38691,"date":"2023-05-13T18:23:53","date_gmt":"2023-05-13T18:23:53","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf"},"modified":"2023-05-13T18:32:16","modified_gmt":"2023-05-13T18:32:16","slug":"public-wage-bill-must-be-brought-down-imf","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf","title":{"rendered":"Public wage bill must be \u2018brought down\u2019 \u2013 IMF"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The International Monetary Fund (IMF) expects the Mozambican economy to grow by 5% this year, but notes that \u201cfiscal performance in 2022 was weaker than expected,\u201d State revenues were lower than anticipated and warns that the civil service wage bill has to be reduced to guarantee fiscal sustainability.<\/p>\n

In a statement issued over the weekend after a team from the organisation visited Mozambique from April 24 to May 5, the IMF states that, in relation to the civil service salaries . \u201cthe government has already undertaken several measures towards correcting the wage bill slippage\u201d.<\/p>\n

\u201cMozambique\u2019s economic recovery has gained momentum\u201d with the sectors most impacted by Covid-19 (hospitality, transport, and communications) rebounding, and land and agriculture benefitting from \u201cfavourable rainfalls\u201d.<\/p>\n

\u201cGrowth in 2022 stood at 4.1% and is projected to rise to 5% in 2023,\u201d the IMF statement reads, noting that \u201cthe pick-up in growth is partly driven by extractive industries, including the first LNG project (Coral South), which began production in October, 2022\u201d.<\/p>\n

For the IMF, inflation \u201chas been moderate (9.3% in March, 2023), reflecting static fuel prices and lower-than-expected second-round effects of food and fuel price increases\u201d, and the exchange rate is \u201cstable\u201d.<\/p>\n

\u201cFiscal performance in 2022 was weaker than expected, with the primary deficit (after grants) about 1\u20442 percent of GDP above projected target\u2014reflecting a significant overrun (of 3 percent of GDP) in the cost of implementing the wage bill reform,\u201d the communique\u0301 details. \u201cLower spending on other goods and services offset part of the wage bill overshoot, such that total current expenditure exceeded projections by about 1 percent of GDP;\u201d it adds.<\/p>\n

\u201cRevenue was about 1 percent of GDP lower than planned, reflecting lower than expected taxes on goods and services (especially VAT),\u201d the IMF says.<\/p>\n

\u201cThe government has already undertaken several measures towards correcting the wage bill slippages, including changes to the reference wage and salary supplements, and auditing the process of mapping public employees from their original salary level to their new salary level,\u201d it notes.<\/p>\n

The IMF staff, therefore \u201cencourages the government to proceed with additional measures to reduce the annual wage bill to its approved budget level\u201d.<\/p>\n

\u201cEnsuring that the public wage bill is brought down is critical for safeguarding fiscal and macro sustainability,\u201d the IMF points out.<\/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 International Monetary Fund (IMF) expects the Mozambican economy to grow by 5% this year, but notes that \u201cfiscal performance in 2022 was weaker than expected,\u201d State revenues were lower than anticipated and warns that the civil service wage bill has to be reduced to guarantee fiscal sustainability. In a statement issued […]<\/p>\n","protected":false},"author":84,"featured_media":38689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-38691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nPublic wage bill must be \u2018brought down\u2019 \u2013 IMF - Mozambique<\/title>\n<meta name=\"description\" content=\"The International Monetary Fund (IMF) expects the Mozambican economy to grow by 5% this year, but notes that \u201cfiscal per ...\" \/>\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\/public-wage-bill-must-be-brought-down-imf\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Public wage bill must be \u2018brought down\u2019 \u2013 IMF\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) expects the Mozambican economy to grow by 5% this year, but notes that \u201cfiscal per ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf\" \/>\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=\"2023-05-13T18:23:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-13T18:32:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/05\/postQueueImg_1683986048.10.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"789\" \/>\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\/public-wage-bill-must-be-brought-down-imf#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Public wage bill must be \u2018brought down\u2019 \u2013 IMF\",\"datePublished\":\"2023-05-13T18:23:53+00:00\",\"dateModified\":\"2023-05-13T18:32:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf\"},\"wordCount\":381,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/05\/postQueueImg_1683986048.10.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/public-wage-bill-must-be-brought-down-imf\",\"name\":\"Public wage bill must be \u2018brought down\u2019 \u2013 IMF - 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