IMF expects Mozambican economy to grow by 8.5 pct in 2014

25 July 2013

The Mozambican economy is expected to post growth of 8.5 percent in 2014, with revenues of 520 billion meticals (US$17 billion), according to the latest projections from the International Monetary Fund (IMF).

The IMF points to an improvement in economic performance against 2013, when Mozambican GDP is expected to grow by 7 percent, with total revenues of 454 billion meticals (around US$15 billion).

In terms of the population’s purchasing power, the organisation estimates that a rise in per capita income of US$50, from US$634 to US$684 in 2014.

The IMF also projected that the average annual inflation rate would be 5.6 percent, which is slightly higher than the projection for this year (5.5 percent), but considerably higher than in 2012 (2.1 percent).

The IMF also said that the country’s imports would be the equivalent of 11.3 percent of GDP and exports 20.9 percent, including large projects, and 8.4 percent and 26.2 percent, excluding large project.

The IMF also points to the country’s external current account posting a deficit of 44.8 percent (excluding donations), corresponding to US$7.158 billion. (macauhub)