The Ministry of Economy and Finance (MEF) announced that the total indebtedness of the State Enterprise Sector (SEE) fell by almost 2% in the first quarter of this year, standing at 601.8 million dollars (38 billion meticals).
In specific terms, the report on the evolution of Mozambique’s public debt highlights, for example, that the state oil company Petróleos de Moçambique (Petromoc) reduced its internal debt by 512.5 million meticals in three months, maintaining a total ‘stock’ of 113.5 million meticals.
“The internal debt contracted by state-owned companies was led at the end of March by the company Linhas Áreas de Moçambique (LAM), with 6.8 billion meticals,” he adds.
The document, published by Lusa, clarifies that payments from SEE companies to the state fell by 3% in 2022, to 28.5 billion meticals, compared to 2021 when the figure was around 29.4 billion meticals.
“The dividends for 2022 contrast with those for 2021, with a reduction of 3 per cent, but even so, the ESS continues to generate more revenue for the public accounts,” he said.
Recently, the MEF announced that the state had invested around 5.5 billion meticals (85.3 million dollars) in the SEE, while in 2021, only 3.5 billion meticals (54.2 million dollars) were injected.
“These transactions are fundamental due to the difficulties faced by some SEE companies during the pandemic crisis and the need to resume their activities. The support involved financing programme contracts, investments, payment of the companies’ sovereign debt and treasury support,” he explained.
