Government says Mozambican economy will grow 4.5% in 2016

11 August 2016

The Mozambican economy should grow at a rate of 4.5 percent this year, with inflation between 10 and 12 percent, said the spokesperson for the Council of Ministers, Mouzinho Saíde.

Saíde, who is also deputy health minister, explained that the country’s gross domestic product grew at a rate of 4 percent during the first half-year.

Standard Bank Moçambique announced about a week ago that it had revised downward its forecast for Mozambique’s economic growth in 2016, from 5.6 percent to 2 percent.

In his comments on Tuesday in Maputo, Saíde said that Mozambican state budget implementation in the first half-year indicates tax collection of 72.3 billion meticais, 41 percent of the expected figure for the current year.

Expenditure stood at 95.2 billion meticais, 19.6 percent of what is budgeted for 2016, he said, as reported by AIM news agency.

At the end of the Council of Ministers meeting, Saíde highlighted that analysis of performance of the first-half-year indicators for the 2016 Social Economic Plan shows that targets will be achieved. (Macauhub/MZ)