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Bank of Mozambique Warns that Domestic Public Debt Remains High

Bank of Mozambique Warns that Domestic Public Debt Remains High

Public debt contracted within the country increased from 139.5 billion meticais in December 2019 to 248.2 billion meticais in July. The Bank of Mozambique warns that the current state debt is high.

The Mozambican state is increasingly resorting to indebtedness within the country, despite the high interest rates applied in the financial market. From December 2019 until last July, public debt rose by about 108.6 billion meticais.

At the close of 2019, the state debt stood at just over 139 billion meticais, equivalent to 14.6% of the Gross Domestic Product (GDP). In July, the value of public debt skyrocketed to around 248 billion, or 24% of Mozambique’s GDP.

Given the current situation, the Bank of Mozambique warns that “domestic public debt remains high. Domestic public debt, excluding loan and lease contracts and overdue liabilities, stands at 248.2 billion meticais, which represents an increase of 29.4 billion compared to December 2021.”

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