Mozambican economy expected to post growth of 8.4 pct in 2013

19 September 2012

The Mozambican economy is expected to post growth of 8.4 percent in 20’13, according to a projection included in the Economic and Social Plan of the 2013 State Budget, approved Tuesday by the Council of Ministers and due to be submitted to the country’s parliament.

Cited by Mozambican daily newspaper Notícias, the document also contains a projection that inflation will total 7.5 percent and that exports will post growth of 14 percent.

For 2013 the government has set increased agricultural and fishing production and productivity, human and social development, employment, combating poverty and boosting national unity as priorities.

In the last decade Mozambique has grown at an average of 7.2 percent per year due to the high level of performance of the financial services, transport and communications, and construction sectors.

According to the document, the Mozambican government considers its main challenge to be expanding its taxpayer base in order to reduce the State Budget’s reliance on foreign aid. (macauhub)