IMF projects that Mozambique and Cape Verde will post growth in 2011 and 2012

15 April 2011

Brussels, Belgium, 15 April – According to projections in the International Monetary Fund’s (IMF) Global Economic Outlook Mozambique is expected to post above average performance for the region with its Gross Domestic Product (GDP) seeing growth of 7.5 percent in 2011 and 7.8 percent in 2012.

Projections for Cape Verde, whose economy saw a recovery last year from the significant downturn seen in 2009 as a result of the world financial crisis, show strong acceleration in 2012, with growth of 6.8 percent, and the projection for this year stands at 5.5 percent, which is similar to growth in 2010.

For other Portuguese-speaking African countries, the IMF projects lower than average growth for the region of their respective economies.

Guinea Bissau’s economy is forecast to grow by 4.3 percent this year and 4.5 percent next year and Sao Tome by 5 percent this year and 6 percent in 2012. (macauhub)