Mozambique
Mozambique’s strong economic prospects are underpinned by the coal and natural gas sectors, as well as significant infrastructure developments. Recently some debt concerns have acted as a brake on investment and growth.
Mozambique was hit by Cyclone Idai in March, which left a path of destruction. As details emerge from the impact of the cyclone, we will in all probability adjust our economic growth forecast downwards for this year. Furthermore, national accounts for Q4 2018 revealed that the economy expanded by an estimated 3.3% last year, which is the lowest annual growth recorded since 2000. The current account deficit also widened substantially last year, largely as a result of a deterioration in the trade and services account deficits. Lastly, inflation is stable for now; however, risks to the inflation environment are tilted towards the upside. (Source: Mozambique Quarterly Update, published March 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-9.4 |
|
Consumer Price Index (% change y-o-y, avg) |
3.9 |
|
Current Account Balance (as a % of GDP) |
-31.5 |
|
Real GDP (annual % change) |
3.3 |
|
GDP per Capita, US$ |
459 |
|
Import Cover (months) |
4.9 |
|
Population, million |
30.6 |
| Total External Debt (as a % of GDP) |
98.0 |