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MOZAMBIQUE may revise its 2011 budget if commodity prices remain at current high levels, Finance Minister Manuel Chang was quoted as saying last Friday.
State-controlled newspaper Noticias reported that Chang said the current budget figures may need to be adjusted to strengthen government finances and public spending.
“We are aware of the market developments and if necessary we will submit a proposal to parliament to revise the budget,” Chang was quoted as saying by Noticias.
Chang referred to high grain and oil prices.
The government has warned that
high food prices could lead to food shortages.
This could see a repeat of last year’s protests in which 13 people were killed in the Southern African country after the government increased the price of bread by 30 percent.
It quickly reversed the decision after a week of unrest.
Mozambique’s parliament approved a 2011 budget of 130 billion meticais (US$4,2 billion) in December, up from US$3,4 billion in 2010.
Around half of the budget will be funded through taxes and the rest from loans and donors.
Mozambique’s economy grew by 6,2 percent in 2010, according to the government, and the International Monetary Fund expects it to expand 7,5 percent this year. – Reuters.
Online Reporter
- Herald
- June 4, 2026
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