Mozambique’s state revenue grew 8.8% in the first quarter, reaching 65.054 billion meticais (931 million euros).
This growth was primarily driven by a 3.1% increase in collected taxes, as stated in the official data.
The sum equals 18.6% of the total anticipated current revenue for 2023, set at nearly 349.113 billion meticais (5 billion euros).
Of the total revenue collected in the first quarter, 89.1% was from taxes, amounting to around 57.963 billion meticais (830.2 million euros).
Value Added Tax (IVA) contributed the most, although it decreased by 7.7% compared to the same period in 2022, totaling 16.359 billion meticais (234 million euros).
This figure comes after deducting 3.232 billion meticais (46.3 million euros) in IVA refunds.
Additionally, the contribution from major projects related to oil, gas extraction, and energy production reached 8.708 billion meticais, or 13.4% of the total revenue, marking a 55.4% growth compared to the same period of the previous year.