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Country · MOZ

Mozambique · Finances and debt

Source: IMF, World Economic Outlook (October 2026) · copied on 2026-11-11

Public finances and external accounts

A fiscal deficit of 5.1 % of GDP

Mozambique: in 2025, the general government spent 5.1 % of GDP more than it collected, public debt stood at 90.3 % of GDP, the current account showed a deficit of 13.5 % (IMF).

Fiscal balance · 2025
−5.1 %
of GDP · +1.1 pt since 2020
Public debt · 2025
90.3 %
of GDP · −29.7 pt since 2020
Current account · 2025
−13.5 %
of GDP · +13.0 pt since 2020

Fiscal balance, % of GDP

Negative: a deficit · dashed: estimates and projections

−10 % −5 % 0 % 5 % 2015 2020 2025 2030 Southern Africa −3.7 Mozambique −8.7 −10 % −5 % 0 % 5 % 2015 2020 2025 2030
Chart data as a table
Mozambique: in 2025, the general government spent 5.1 % of GDP more than it collected, public debt stood at 90.3 % of GDP, the current account showed a deficit of 13.5 % (IMF).
Year MozambiqueSouthern Africa
2015 −6.6 % −4.2 %
2016 −5.1 % −4.0 %
2017 −2.0 % −4.7 %
2018 −5.7 % −3.1 %
2019 +1.7 % −4.0 %
2020 −6.2 % −7.9 %
2021 −5.2 % −4.5 %
2022 −5.2 % −2.9 %
2023 −4.3 % −5.1 %
2024 −6.2 % −4.4 %
2025 · estimate −5.1 % −4.9 %
2026 · projection −3.3 % −4.2 %
2027 · projection −6.0 % −3.9 %
2028 · projection −7.1 % −3.9 %
2029 · projection −8.1 % −3.8 %
2030 · projection −8.7 % −3.7 %
  • Mozambique
  • Southern Africa

Source: IMF, World Economic Outlook (October 2026) · general government net lending or borrowing · group values weighted by GDP in dollars (Syli Atlas)

Current account, % of GDP

Trade, income and transfers with the rest of the world

−60 % −40 % −20 % 0 % 2015 2020 2025 2030 Mozambique −16.0 −60 % −40 % −20 % 0 % 2015 2020 2025 2030
Chart data as a table
Current account balance of Mozambique, % of GDP
Year Mozambique
2015 −36.8 %
2016 −31.9 %
2017 −19.5 %
2018 −29.5 %
2019 −16.1 %
2020 −26.5 %
2021 −21.2 %
2022 −33.7 %
2023 −10.6 %
2024 −10.9 %
2025 · estimate −13.5 %
2026 · projection −41.0 %
2027 · projection −37.8 %
2028 · projection −34.8 %
2029 · projection −29.5 %
2030 · projection −16.0 %

Source: IMF, World Economic Outlook (October 2026)

Currency

Metical

The metical has no fixed peg: its value against the dollar and the euro moves with the market and the central bank's policy.

Currency
MZN
metical
Exchange regime
—
no fixed peg
Inflation · 2025
4.4 %
average annual change in consumer prices

Currency codes: ISO 4217 · fixed parities: central banks (BCEAO, BEAC, Central Bank of the Comoros, Bank of Cape Verde…) · inflation: IMF, World Economic Outlook (October 2026)

Debt

A debt owed first to multilateral lenders

At the end of 2025, Mozambique owed 9.3 bn$ in public external debt (World Bank). 14.4 % of it was owed to China, 51.4 % to multilateral institutions and 9.7 % to bond holders.

Debt of the 54 countries →
Public debt · 2025
90.3 %
of GDP · IMF
External debt · 2025
74.4 bn$
public and private · World Bank
Public external debt · 2025
9.3 bn$
owed or guaranteed by the State
Debt service · 2024
9.7 %
of exports of goods, services and income

Risk of debt distress

IMF and World Bank debt sustainability analysis

Latest analysis published on 2026-02-19: high.

Source: IMF, list of debt sustainability analyses of low-income countries, as of 2026-03-31 · imf.org

Public external debt by creditor

Share of the total at the end of each year

2015
2020
2025
Multilateral (IMF, World Bank, AfDB…)
51.4 %
China
14.4 %
Other countries
23.1 %
Bonds (Eurobonds)
9.7 %
Banks and other private lenders
1.4 %

Source: World Bank, International Debt Statistics (updated 2026-11-05) · public and publicly guaranteed external debt, end of year · CC BY 4.0 · shares: Syli Atlas calculation