Mozambique Economic Outlook
April 16, 2019The powerful Cyclone Idai that hit Mozambique last month has created a major humanitarian emergency. Nearly 2 million people were affected, over 600 have been reported dead and hundreds of thousands are currently in desperate need of food, water and shelter. Although it is still too early to accurately determine the macroeconomic effects and reconstruction costs of the storm, these are set to be enormous. Meanwhile, the IMF concluded its Article IV mission in late-March, stating it will consider emergency financial assistance under its Rapid Credit Facility to respond to the disaster. On the economy, it also highlighted the need for fiscal consolidation to reduce bulky public debt and recommended authorities to rely as much as possible on grants and cheap concessional loans to finance the budget.
Mozambique Economic GrowthAfter logging the weakest expansion in nearly two decades in 2018, the economy is seen gaining traction this year mainly on the back of strong investment activity. That said, a widening current account deficit and deteriorating fiscal metrics pose downside risks to the outlook. In addition, the likely adverse economic impact of the cyclone will weigh on near-term prospects. Met the why particular panelists see the economy growing 3.6% in 2019, which is unchanged from last month’s forecast, and 4.2% in 2020.
Mozambique Economy Data
5 years of Mozambique economic forecasts for more than 30 economic indicators.
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|Exchange Rate||64.13||0.48 %||Apr 12|
|Stock Market||0.1||0.0 %||Apr 12|
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