Maputo, Mozambique, 10 Aug – The Mozambican economy posted growth in the first half of this year, despite the constraints of delays in pay outs from donors and devaluation of the metical, Mozambique’s currency, against the rand and the US dollar, the deputy Justice Minister and government spokesman, Alberto Nkutumula said Monday in Maputo.

Figures published at the end of the 28th meeting of the Council of Ministers, showed overall growth in production of some 7.2 percent and of Gross Domestic Product of 9.5 percent.

According to the figures announced by Nkutumula, inflation stood at 5.7 percent in the period. The Mozambican government has been working towards keeping inflation at less than 9.5 percent by the end of the year.

Also according to the spokesman exports in the first quarter totalled US$456 million, whilst net foreign reserves for July 2010 totalled US$1.742 billion, which is enough for 4.4 months of imports.

According to Nkutumula, this level of growth is perfectly in line with projections. (macauhub)

According to the figures announced by Nkutumula, inflation stood at 5.7 percent in the period. The Mozambican government has been working towards keeping inflation at less than 9.5 percent by the end of the year.

Also according to the spokesman exports in the first quarter totalled US$456 million, whilst net foreign reserves for July 2010 totalled US$1.742 billion, which is enough for 4.4 months of imports.

According to Nkutumula, this level of growth is perfectly in line with projections. (macauhub)