Mozambican economic growth projected to be up 8% in 2014

19 September 2013

The Mozambican economy should grow by 8 percent in 2014 according to the projection set out in the state budget document approved by the government, Council of Ministers spokesman Alberto Nkutumula said in Maputo.

The proposed law will be submitted to Parliament along with the economic and social plan. It considers an inflation rate of 5.6 percent and economic growth of 8 percent; exports should rise to US$ 4.774 billion.

The aim is to maintain macroeconomic stability via better coordination of fiscal, monetary and exchange rate policies, to keep the metical currency stable and finance social and economic development, with priority for the education, health, water, agriculture and infrastructure sectors, Nkutumula said.

Planning and Development Minister Aiuba Cuerencia confirmed after the meeting the 300-million euro order for 30 ships from France’s Constructions Méchaniques de Normandie (CMN) shipyard in Cherbourg.

Last Friday, CMN owner Iskandar Safa explained that the 30 vessels (24 trawlers along with three 32-metre and three 42-metre patrol boats) were part of a contract the Safa group signed with Mozambique, which includes the same number of vessels to be built in shipyards in Germany and Abu Dhabi. (macauhub)