Managing sovereign wealth and expectations

Managing sovereign wealth and expectations

Good afternoon. Perhaps the saga of Mozambique’s never-fully-delivered school textbooks is coming to an end. The state budget for 2025 includes provision for the distribution of the remaining textbooks, at a cost of MZN779.5m ($12.2m). It is one of a number of items being paid for out of the roughly MZN5bn ($78m) in gas revenues the government forecasts to receive this year. Under the law on the sovereign wealth fund passed last year, 60% of sta…