MOZAMBIQUE: NEW PM WANTS TO BOOST OUTPUT, ENSURE FINANCIAL INDEPENDENCE

04 Mar 2022

Mozambique’s new prime minister, Adriano Maleiane, on Friday called for a boost to production to ensure the country’s “financial independence” and said that containing spending was fundamental.

“We cannot spend more than we have because if we do that, we will have problems,” said Maleiane, speaking to the media moments after the swearing-in ceremony at the Presidency in Maputo.

For the new Mozambican prime minister, increasing exports is among the most appropriate solutions to improve the country’s economy, but this option requires increasing production.

“When we produce, we can collect more taxes. Today our revenues cover about 75% or 77% [of needs]. We have to move towards a situation where we at least manage to have revenues for what we are building,” he said.

Adriano Maleiane, who until the date of his appointment as prime minister was minister of economy and finance, reiterated that negotiations are “quite advanced” for a new programme with the International Monetary Fund, one of the partners that suspended direct aid to Mozambique in 2016 following the discovery of the scandal of the state’s hidden debts.

“Right now, we are in the phase of quantifying the targets and discussing the structural measures that will be in the programme. The programme is important for the country,” said the new Mozambican prime minister, stressing that a new programme is vital to improve Mozambique’s image in the international financial market.

In February, an IMF source told Lusa that Mozambique could have a new programme by the end of June if the recent meetings were successful.

Adriano Maleiane replaces Carlos Agostinho do Rosário, who had been appointed to the post in 2015 when Mozambican head of state Filipe Nyusi formed his first term government after winning the 2014 general elections.

Photo: Lusa
Source: Lusa

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