The Government, meeting in another session of the Council of Ministers, approved on Tuesday, April 29, the draft law for the Economic and Social Plan and State Budget (PESOE) for 2025, with a deficit of 126.8 billion meticals (1.9 billion US dollars).
The PESOE is a document that defines the main economic, social, and financial policy objectives of the State, and also identifies the projected revenues to be collected, the actions to be taken, and the resources needed for its implementation.
According to Inocêncio Impissa, spokesperson for the Executive and also Minister of State Administration and Public Service, the PESOE, which will still need to be submitted to Parliament for debate and approval, is budgeted at 512.7 billion meticals (7.9 billion US dollars) in total.
The official clarified that among the main macroeconomic assumptions underpinning the 2025 PESOE are a projected Gross Domestic Product (GDP) growth of 2.9% and an average annual inflation rate of around 7%. “The outlook also points to revenues of 385.8 billion meticals (5.9 billion US dollars),” he said.
“The Government is doing the best it can. This week, the President said that it has been possible, in these first 100 days, to make omelets without eggs,” Impissa stated, referring to the fact that the Executive, which took office in January, is still operating under a rollover budget from 2024.
In the same session, the Executive also reviewed the General State Account for the 2024 fiscal year, highlighting an increase in the public debt stock, which stands at 1.1 trillion meticals (17 billion US dollars), equivalent to 76.9% of GDP.
Inocêncio Impissa recalled that the revenues collected by the State last year amounted to 344.8 billion meticals (5.3 billion US dollars), representing 89.9% of the targeted goal.
