Mozambique Economic Outlook
February 25, 2020Preliminary data showed that economic conditions remained lackluster in the final quarter of 2019, with annual GDP growth matching the third quarter’s 2.0% upturn—leading to the weakest expansion in over two decades for the year as a whole. Although the primary sector recovered in Q4, mainly on the back of a rebound in fishery production, the industrial sector contracted amid a marked decline in manufacturing output. Meanwhile, the key mining industry shrank for the third quarter running. As for the services sector, activity cooled, though it remained somewhat healthy thanks to improved dynamics in financial services and public administration. In other news, on 12 February, the government signed a cooperation agreement with Norway that aims to build the country’s capacity for the sustainable exploitation of its gas reserves.
Mozambique Economic GrowthGrowth is poised to bounce back this year amid the reconstruction efforts from the devastating cyclones that struck last year. Soaring capital spending towards the development of mega LNG projects is also expected to prop up activity in the short- to medium-term. Key risks to the outlook abound, however, particularly the country’s high public and external debt loads. FocusEconomics panelists see growth at 4.7% in 2020, which is unchanged from last month’s forecast, and at 4.5% in 2021.
Mozambique Economy Data
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|Exchange Rate||62.43||0.48 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 06|
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