Mozambique grew 2.9% in the first quarter compared to the same quarter last year, according to the Mozambican National Statistics Institute (INE).
Compared to the last quarter of 2016 the economy grew 1.8%, INE said.
The Economist Intelligence Unit (EIU) predicted in February that Mozambique’s economy would grow by 4.2% in 2017, after recording the lowest growth in the last fifteen years (3.3%) in 2016.
The Capital Economics consultancy predicts that Mozambique will grow 4.5% this year, 5% in 2018 and 5.5% in 2019.
The International Monetary Fund (IMF) forecasts Mozambican economic expansion of 4.5% in 2017, accelerating to 5.5% the year after.
In May, the President of Mozambique, Filipe Nyusi, said he expects Mozambique’s economy to grow by 5.5% in 2017.(macauhub)