Current Account in Mozambique
Mozambique - Current Account (billions of U.S. Dollars)Growth slumped to a near two-year low in Q2 as the agricultural sector—which accounts for the largest share of output and employment—stagnated amid the vast crop destruction reaped by cyclones Idai and Kenneth. In other news, Occidental Petroleum’s takeover of energy company Anadarko, which was leading a multi-billion-dollar LNG project in the Rovuma basin, is set to reportedly raise over USD 850 million in capital gains tax revenue for the government—providing a much-needed cash injection. Meanwhile, in late September, Moody’s upgraded the country’s credit rating to Caa2 from Caa3, citing its prospects for a successful bond restructuring and entering an IMF program in the near future. This comes against the backdrop of an electoral campaign marred by violence, in which President Filipe Nyusi is expected to be re-elected for a second term on the 15 October general election.
Mozambique - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-6.3||-5.8||-6.0||-3.8||-2.6|
5 years of economic forecasts for more than 30 economic indicators.
Mozambique Current Account (USD bn) Chart
Source: Bank of Mozambique
|Exchange Rate||61.70||0.48 %||Sep 04|
|Stock Market||0.1||0.0 %||Sep 04|
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