The Ministry of Economy and Finance (MEF) announced the mobilisation of 115 million meticals during the first quarter of the year, which corresponds to 20.3% of the annual forecast. Accordingto the MEF’s recently released budget execution report, internal resources stood at 24.8 per cent and external resources at 6.1 per cent of the programme, according to the newspaper Noticias.
External donations totalled 8.3 million meticals, corresponding to 3.1% of the annual forecast. External credits totalled 5 million meticals, 16.7% of what was expected. State revenue, made up of internal resources, accounted for 19.1% of the total resources mobilised, equivalent to 63.7% of the total.
The MEF details that tax revenue in the period under review totalled 83.4 million meticals, corresponding to 18.5 percent of the annual forecast. Other financing, including internal and external credits and donations, contributed 17 per cent, 12 per cent, 4.4 per cent and 2.9 per cent respectively.
According to the information, during this period revenues from oil and natural gas exploration totalled 94.2 million dollars (5.9 million meticals). The state revenue collected represented a growth of 12.6 per cent compared to the same period last year, which recorded 65.8 million meticals.
The MEF explains that this positive performance was influenced by growth in Value Added Tax (VAT) and Corporate Income Tax (IRPC), which increased by 31.8 per cent, as well as other contributions, such as the Economic Acceleration Tax. Revenue from the Institute for the Management of State Holdings totalled 542.4 million meticals, a reduction of 52 percent compared to the same period in 2023, which was 289.6 million meticals.
