World Bank notes Mozambique’s progress in combating poverty

22 February 2007

Maputo, Mozambique, 22 Feb – Mozambique is one of the few African nations that has been able to reduce its per4centage of poor, and may fully comply with its United Nations Objectives, which outline reducing poverty to half by 2015, the World Bank said Monday.

The World Bank report on “African Development Indicators 2006,” published in Maputo said that Mozambique’s poverty index had fallen from 70 percent in 1997 to 54 percent in 2003.

The second stage of the Action Plan for Reducing Poverty (PARPA II) in Mozambique, includes reducing poverty to 45 percent in 2009, and inflation to stabilize at around the single digit level.

In 2005, sub-Saharan Africa posted economic growth of 5.3 percent, against 4 percent the previous year, which was double the growth posted in the 19990s, when annual average economic growth was 2.4 percent, the World Bank’s document noted.

The World Bank’s annual publication shows the African continent as a diverse place with several countries posting considerable progress, others stagnating and still others that are seriously underdeveloped.

Zimbabwe was the only African nation to have negative growth in 2004, of minus 2.4 percent. (macauhub)