{"id":47939,"date":"2023-10-04T20:22:17","date_gmt":"2023-10-04T20:22:17","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank"},"modified":"2023-10-04T20:31:56","modified_gmt":"2023-10-04T20:31:56","slug":"fiscal-pressure-to-remain-high-in-short-term-central-vank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank","title":{"rendered":"Fiscal pressure to remain high in short term \u2013 Central Vank"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique\u2019s central bank, the Bank of Mozambique ,expects \u201cfiscal pressure\u201d to remain \u201chigh\u201d in the short term in the country, and underlines a 12.3% growth in total State expenditure in the first half of the year, compared to the same period in 2022.<\/p>\n

\u201cIn the short term, fiscal pressure is expected to remain high, taking into account the ongoing negotiations within the scope of the implementation of the Single Salary Table, debt service charges, the need for additional resources to face the El Nin\u0303o phenomenon,\u201d reads a central bank report on the economic situation consulted by Lusa today.<\/p>\n

It also points out \u201cother expenses associated with the electoral process\u201d, taking into account the municipal elections on October 11, \u201cdespite the expectations of a relative improvement in State revenues, resulting from measures associated with the gradual implementation of the Economic Acceleration Package and improvement of business environment\u201d.<\/p>\n

The report also highlights the year-on-year increase in public expenditure, which rose by 12.3% in the first half to 195,647 million meticais (\u20ac2,902 million), meaning that this \u201cfiscal execution reflects the continued pressure on financial operations and State operating expenses\u201d.<\/p>\n

\u201cWith emphasis on personnel expenses, in a context in which public investment remained conditioned on limited financial capacity,\u201d the report points out.<\/p>\n

The central bank report also acknowledges the \u201cimprovement in Mozambique\u2019s current account balance\u201d, given the \u201creduction in imports\u201d.<\/p>\n

In the first half of the year, the value of exports of goods fell, compared to the same period in 2022, the equivalent of US$171 million (\u20ac161.6 million), justified \u201cby the sharp fall in the prices of the main commodities of export on the international market\u201d.<\/p>\n

Imports dropped by US$4,110 million dollars (\u20ac3,885 million), but this is explained \u201cby the base statistical effect\u201d, taking into account the incorporation in the first half of 2022 of the floating platform of the Coral Sul natural gas production platform, valued at around US$4,200 million (\u20ac3,970 million).<\/p>\n

\u201cAmong the main export products, only gas and heavy sands registered increases, reflecting the volume effect, with the rest suffering significantly from the drop in prices on the international market,\u201d the report further comments.<\/p>\n

\u201cIt is expected that, in the short term, the volume of exports will continue to grow, favoured by the continuous improvement in the performance of large projects, with emphasis on natural gas and mineral coal,\u201d the document from the Bank of Mozambique concludes.<\/p>\n

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

Africa-Press – Mozambique. Mozambique\u2019s central bank, the Bank of Mozambique ,expects \u201cfiscal pressure\u201d to remain \u201chigh\u201d in the short term in the country, and underlines a 12.3% growth in total State expenditure in the first half of the year, compared to the same period in 2022. \u201cIn the short term, fiscal pressure is expected to […]<\/p>\n","protected":false},"author":84,"featured_media":47938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-47939","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":"\nFiscal pressure to remain high in short term \u2013 Central Vank - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambique\u2019s central bank, the Bank of Mozambique ,expects \u201cfiscal pressure\u201d to remain \u201chigh\u201d in the short term in the c ...\" \/>\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\/fiscal-pressure-to-remain-high-in-short-term-central-vank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fiscal pressure to remain high in short term \u2013 Central Vank\" \/>\n<meta property=\"og:description\" content=\"Mozambique\u2019s central bank, the Bank of Mozambique ,expects \u201cfiscal pressure\u201d to remain \u201chigh\u201d in the short term in the c ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank\" \/>\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=\"2023-10-04T20:22:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-04T20:31:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/10\/sm_1696438920.734816.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"775\" \/>\n\t<meta property=\"og:image:height\" content=\"517\" \/>\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\/fiscal-pressure-to-remain-high-in-short-term-central-vank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fiscal pressure to remain high in short term \u2013 Central Vank\",\"datePublished\":\"2023-10-04T20:22:17+00:00\",\"dateModified\":\"2023-10-04T20:31:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank\"},\"wordCount\":410,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/10\/sm_1696438920.734816.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\/fiscal-pressure-to-remain-high-in-short-term-central-vank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fiscal-pressure-to-remain-high-in-short-term-central-vank\",\"name\":\"Fiscal pressure to remain high in short term \u2013 Central Vank - 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