africa Banking Economy Finance Government Mozambique

Mozambique’s economy grows 2.9% in the first quarter

Mozambique grew 2.9% in the first quarter compared to the same quarter last year, according to the Mozambican National Statistics Institute (INE).

Compared to the last quarter of 2016 the economy grew 1.8%, INE said.

The Economist Intelligence Unit (EIU) predicted in February that Mozambique’s economy would grow by 4.2% in 2017, after recording the lowest growth in the last fifteen years (3.3%) in 2016.

The Capital Economics consultancy predicts that Mozambique will grow 4.5% this year, 5% in 2018 and 5.5% in 2019.

The International Monetary Fund (IMF) forecasts Mozambican economic expansion of 4.5% in 2017, accelerating to 5.5% the year after.

In May, the President of Mozambique, Filipe Nyusi, said he expects Mozambique’s economy to grow by 5.5% in 2017.

Source: Macauhub

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