Mozambique’s Revenue Sees 13% Surge in 2023

In 2023, Mozambique witnessed a significant 12.7% growth in state revenue, amounting to 321.921 billion meticais (€4.675 billion), largely due to increased tax collections.

This growth, detailed in a report from the Ministry of Economy and Finance, achieved 92.2% of the year’s projected revenue, initially estimated at nearly 349.114 billion meticais (€5 billion).

Projected 2023 VAT collection: 75.994 billion meticais, deducting 12.539 billion meticais for tax refunds.

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Corporate income tax surged by 74% to 90.117 billion meticais, surpassing government expectations by 15%.

Additionally, Mozambique saw a decrease in its annual inflation rate to 7.13%, a reduction of 3.17 percentage points from the year before.