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.
The last quarter was eventful, albeit difficult for Mozambicans. The two cyclones that swept through the country left a path of destruction killing over 600 people and leaving thousands homeless. Therefore, we lowered our economic growth forecast to 2.2% for 2019. We expect inflation to rise as government increases maize imports to cover the shortfall, after crops in the central region were wiped out. This will also have a negative knock-on effect to the trade account and subsequently the current account balance. The fiscal account will also feel the pressure as authorities provide assistance and start to rebuild. (Source: Mozambique Annual Country Profile, published June 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-5.6 |
|
Consumer Price Index (% change y-o-y, avg) |
3.9 |
|
Current Account Balance (as a % of GDP) |
-31.0 |
|
Real GDP (annual % change) |
3.4 |
|
GDP per Capita, US$ |
476.4 |
|
Import Cover (months) |
4.9 |
|
Population, million |
29.6 |
| Total External Debt (as a % of GDP) |
97.6 |