Mozambican economy to expand 6.2 pct in 2010, government says

15 April 2010

Maputo, Mozambique, 15 April – The Mozambican government has projected an economic growth rate of 6.2 percent for this year,
which is practically the same as the 6.1 percent in 2009.

The projection was made Wednesday by the Mozambican Finance Minister, Manuel Chang, to the Mozambican Parliament, during the debate for the State Budget and the Economic and Social Plan for 2010.

The plan outlines exports of products worth a total of US$2.142 billion, or 10 percent more than in 2009.

The budget points to an average inflation rate for this year of 9.5 percent as compared to 2009 when inflation totalled 3.3 percent due to government subsidies on fuel.

In terms of agriculture, the Economic and Social Plan outlines growth of 11.9 percent, a figure that could be affected by droughts in the first few months of the years in the south and centre of Mozambique.

The government for 2010 also expects growth of the energy sector of some 13.9 percent, of 9.2 percent in transport and communications and 41.7 percent for the mining industry due to the launch of natural gas exploration, heavy minerals at Moma and coal reserves in Tete. (macauhub)