In-Depth Analysis
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.
There were some positive signs over the last three months despite economic growth slowing further to 2.0% y-o-y during the third quarter. After the Eurobond restructuring in Q3, all three credit rating agencies upgraded Mozambique sovereign credit rating in Q4. More specifically, both S&P Global Ratings and Fitch Ratings removed the country from default territory. Furthermore, the IMF announced that it is ready to engage with authorities on a new programme, but awaits an official request. However, the Mozambican economy is still struggling to gain traction in the aftermath of two cyclones earlier this year and the spillover effects from the debt scandal. (Source: Mozambique Quarterly Update, published December 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-5.4 |
|
Consumer Price Index (% change y-o-y, avg) |
3.9 |
|
Current Account Balance (as a % of GDP) |
-31.1 |
|
Real GDP (annual % change) |
3.3 |
|
GDP per Capita, US$ |
489.9 |
|
Import Cover (months) |
3.5 |
|
Population, million |
29.5 |
| Total External Debt (as a % of GDP) |
105.2 |