World Bank forecasts 7 pct growth for Mozambique in 2013

14 June 2013

The World Bank has forecast that Mozambique’s gross domestic product (GDP) will post growth of 7 percent in 2013, and will be overtaken by Angola’s expected GDP growth of 7.2 percent, according to the bank’s Global Economic Prospects report, issued Wednesday.

The world Bank’s forecast is the same as that of Mozambique’s central bank, which revised its figures in April due to the floods that affected the country at the beginning of the year.

Mozambique’s growth will thus be the same as that of Rwanda, Zambia and Tanzania, which will all be outperformed by Angola, which is expected to grow by 7.2 percent, Ghana (7.8 percent), the Ivory Coast (8 percent), the democratic Republic of Congo (8.2 percent), Gambia (10.7 percent), Sierra Leone (17.1%) and Southern Sudan (24 percent).

For 2014 and 2015 the World Bank expects the Mozambican economy to post growth, in both years, of 8.5 percent, and Angola’s GDP is expected to grow by 7.5 percent and 7.8 percent, respectively.

On a regional level, the World Bank expects average growth of 4.9 percent this year, 5.2 percent in 2014 and 5.4 percent in 2015, and forecasts net Foreign Direct Investment (FDI) in Sub-Saharan Africa of around US$40 billion in 2013, compared to US$32.1 billion in 2012. (macauhub)