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MEF: Public Spending in Q1 Represents 17.2% of Total Budget

MEF: Public Spending in Q1 Represents 17.2% of Total Budget

In the first three months of the year, state spending totalled 17.2 percent of the planned annual budget, according to the Balance of Budget Execution recently released by the Ministry of Economy and Finance (MEF).

According to an article in the newspaper Noticias, government activities in the first quarter resulted in total expenditure of 97.8 million meticals. The areas of human capital development and social justice stood out, accounting for 43.3 per cent and 25.7 per cent of spending, respectively. The education sector was the biggest beneficiary, absorbing 21.3 billion meticals of the 82.5 billion forecast for the year.

The report also points out that the health sector had a significant weight, accounting for 22.4 per cent of spending, while agriculture and rural development consumed 6.4 per cent of resources. ‘During this period, the government orientated its activities towards strengthening democracy, reconciliation and national unity,’ the document reads.

In addition, the report highlights efforts to strengthen international co-operation and the development of human capital and social justice. ‘Sectoral commitments reached a realisation of 18.5%, while structural and social sectors reached 3.7% and 13.8% respectively,’ it adds.

Overall, the document highlights that the level of implementation of sectoral commitments was 15.8 per cent of total expenditure, excluding debt charges and financial operations. ‘For 2024, the government projects total expenditure of 542.7 billion meticals, representing 35.3 per cent of Gross Domestic Product, with an estimated fiscal deficit of 159.2 billion meticals,’ the information reads.

The document concludes by emphasising that the government’s main focus continues to be economic growth, productivity and job creation, with an expected impact of 188 billion meticals, corresponding to 34.6% of total annual expenditure.

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