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Home Economy

Mozambique: Economy grows 4.1% in Q1 – INE

Club of Mozambique by Club of Mozambique
May 25, 2022
in Africa, Economy, Mozambique
Reading Time: 1 min read
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The Mozambican economy grew by 4.1% in the first quarter of this year, the biggest quarterly figure since June 2018, the National Statistics Institute (INE) announced this week.

Hotels and restaurants led the economic growth with the sector registering an 11.45% increase, followed by the extractive industry with 8.56% and transport and communications with 7.34%.

In a comment on the INE data, the Bank of Mozambique yesterday attributed the growth to the easing of Covid-19 restrictions, allowing the economy to revive.

Also read: Renewables: Storage and Grid Integration in Mozambique

The Mozambican economy grew by 2.16% in 2021. In the Economic and Social Plan and State Budget for 2022, approved by parliament in December before the global inflationary risks triggered by the war in Ukraine, the government predicted annual growth this year of 2.9%.

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Source: Club of Mozambique
Tags: Bank of MozambiqueEconomyhotelsINEMozambican economy grewMozambiqueMozambique: Economy grows 4.1% in Q1 – INENational Statistics Instituterestaurantsмозамбикموزمبيقモザンビーク莫桑比克
Club of Mozambique

Club of Mozambique

'Club of Mozambique is an online gateway to Mozambique, offering up-to-date information and news relating to business, politics and other economic activities in Mozambique.

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