Economic growth to remain strong in Mozambique in 2012 and 2013

29 May 2012

Mozambique’s gross domestic product (GDP) is expected to grow from 7.2 percent in 2011 to 7.9 percent in 2013 according to the Economic Outlook for Africa 2012, from the African Development Bank (ADB), the OECD and the UN, issued Monday in Arusha, Tanzania.

This year, GDP is projected to post growth of 7.5 percent, said the document noting that the start of coal exports and “strong performance of financial services and the transport, communications, and construction sectors,” were the driving forces behind this level of growth.

An upturn in foreign direct investment (FDI), particularly in the mining sector, string agricultural growth and investments in infrastructure are also expected to “drive significant real growth in 2012 and 2013,” the report said.

The report, which was produced by the ADB, the Organisation for Economic Cooperation and Development (OECD), by the United Nations Economic Commission for Africa (UNECA) and by the United Nations Programme for Development (UNPAD), was issued at the start of the annual meeting of the ADB in Arusha, Tanzania. (macauhub)