Governor of the Bank of Mozambique estimates GDP of 7.5 pct in 2014

18 December 2014

The Governor of the Bank of Mozambique (BM), Ernesto Gove, said Wednesday in Maputo he estimated Gross Domestic Product (GDP) is expected to be around 7.5 percent in 2014, increasing his forecast from the beginning of year.

Gove said economic performance was again supported by the contribution of agriculture and the extractive industries.

“We are pleased to note that the dynamism of economic activity comes from sectors that traditionally have a higher multiplying effect on employment and on the activity of small and medium enterprises, which should be continuously pursued for the purpose of more equitable redistribution of wealth,” he said as he took stock of the 2014 financial year.

With regard to challenges facing Mozambique the governor of the Bank of Mozambique, cited by Mozambican newspaper Notícias said maintaining peace and consolidation of the normal functioning of the country were essential conditions for strengthening macroeconomic stability and the financial sector, as well as for achieving the targets that will be set by the Government in the Economic and Social Plan for 2015.(macauhub/MZ)