Angola and Mozambique set to have lowest economic growth since 2009, IMF says

7 October 2015

Angola and Mozambique are expected this year to record the lowest growth since the global financial crisis of 2009, of 3.5 percent and 7 percent, respectively, reported the International Monetary Fund (IMF) in its World Economic Outlook report.

The document, published Tuesday in Washington, said that Angola will grow 3.5 percent this year and next, while Mozambique slows to 7 percent this year, recovering to 8.2 percent in 2016 and experiencing exponential growth of 17.6 percent in 2020, when natural gas exports begin.

Angola is expected to see growth of 5.2 percent in 2020, showing that the decline in oil prices and the consequent impact on tax revenues will have lasting effects on the economic development of the country.

Cabo Verde (Cape Verde) is expected to grow this year by 3.5 percent, accelerating to a rate of 3.7 percent in 2016 and 4.2 percent in 2020 and Guinea-Bissau should have a growth in 2015, 2016 and 2020 of 4.7 percent, 4.8 percent and 5.0 percent, respectively.

São Tomé and Príncipe, the remaining Portuguese-speaking African country, according to the latest edition of the World Economic Outlook is expected to grow 5.0 percent this year, 5.2 percent in 2016 and 6.0 percent in 2020. (macauhub/AO/CV/GW/MZ/PT)