According to government data, the 2025 public accounts show that the government executed nearly 90% of its projected spending, but with rising debt and signs of pressure on financial sustainability.
According to the General State Account report, cited by Lusa, expenditures reached 467 billion meticais, while the public debt stock rose to approximately 14.6 billion euros.
According to the statement from the Council of Ministers, the level of expenditure execution stood at 89.9% of the total planned in the Economic and Social Plan and State Budget.
During the same period, revenue collected slightly exceeded expenditures, reaching 468 billion meticais.
The government indicates that domestic resources financed most of the expenditure, covering 94.5%, while external resources fell short of projections.
Despite this performance, the total volume of expenditure remained high relative to the budgetary targets set for the year.
Public debt continues to grow
The stock of public debt increased by 4.5% compared to the previous year, reaching over one trillion meticais.
The growth of debt, particularly domestic debt, has been identified as one of the main risks to economic stability. “Domestic public debt continues to deteriorate, negatively affecting the functioning of the financial market,” warns the central bank.
Recent data indicate that domestic debt has nearly tripled since 2020, currently accounting for about 30% of Gross Domestic Product.
Financial sustainability under pressure
The government acknowledges that debt sustainability is one of the greatest challenges facing the national economy and advocates for more prudent management. “It is our obligation to ensure that every metical borrowed is used efficiently, productively, and responsibly,” stated Finance Minister Carla Loveira.
In this context, the government has moved forward with hiring an international consulting firm to support debt restructuring and the definition of a new management strategy for the 2026–2029 period.
The measure aims to ensure fiscal consolidation and reduce risks associated with rising debt.
Authorities argue that debt control will be crucial to ensuring macroeconomic stability and the sustainability of public finances in the coming years.
