Mozambican economy to expand 6 pct in 2010, government says

17 February 2010

Maputo, Mozambique, 17 Feb – The Mozambican economy is projected to grow by 6 percent this year and inflation to reach 9.5 percent, according to a proposal for the Economic and Social Plan to be submitted by the government to the Republican Assembly, the country’s parliament.

Cited by Mozambican newspaper Notícias, government spokesman Alberto Nkutumula said that according to the proposal exports were expected to total US$2.142 billion, which would be year on year growth of around 10 percent.

The level of net international reserves is expected to make it possible to fund around five months of imports of goods and services, excluding large projects.

The proposal to be submitted to parliament will be the first experience of implementing programme planning and budget methodology outlined in the Law of the State Financial Administration System.

Via the Economic and Social Plan the government hopes to attract investment to Mozambique, whilst implementing correct environmental management.

It also plans to improve the quantity and quality of public education, health, water and sanitation, roads and energy services, as well as consolidating de-centralisation of the State budget to the country’s districts. (macauhub)