After collecting 100 million dollars this year, the country expects to collect more than 4.2 billion meticais in revenue from the exploration of liquefied natural gas from the Coral-Sul project in the Rovuma Basin. The figures come from the Economic and Social Plan and State Budget (PSOE) for 2024.
According to an article in the newspaper O País, published this Friday, November 24, overall, the government expects to collect around 383.5 billion meticais in revenue in 2024. In nominal terms, there is an expected increase of 7.4% compared to this year.
In fact, the government document submitted to Parliament foresees a notable contribution from the energy sector, because of the 310.4 billion meticais from tax revenues, 4.2 billion meticais will come from the Coral-Sul FLNG project in the Rovuma Basin.
This amount, added to other internal resources, could make up the 429 billion that the government plans to add to 2024 expenditure. “For the PESOE 2024 proposal, an amount of 429.8 billion meticais is planned for internal resources, equivalent to 28.0% of Gross Domestic Product (GDP). Of the total amount, 383.5 billion meticais correspond to state revenue, and the remaining 46.3 billion meticais to internal credit, which represents an increase of 0.2 pp in percentage terms of GDP compared to the PESOE 2023 Law,” writes the government.
Recently, the Minister of Mineral Resources and Energy, Carlos Zacarias, announced that the Mozambican state has already received more than 100 million US dollars in revenue from the Coral-Sul project.
Zacarias said that the amount had been deposited in an account specifically dedicated to natural gas revenues.
