The exploration of Liquefied Natural Gas (LNG), in the Rovuma Basin, Cabo Delgado province, may positively impact the annual growth rate of the national Gross Domestic Product (GDP) to an average of more than six percent starting in 2023, said today, in Maputo, the President of the Republic (PR).

"Between 2023 and 2025, the production and export of liquefied natural gas is expected to determine the pace of economic growth with real GDP growing above six percent, per year," Filipe Nyusi advanced.

For now, Mozambique's GDP growth should be more moderate and between 2.9% and 3.8% in line with a trajectory that started last year, preceded by a recession in 2020 which in turn was influenced, negatively, by the socio-economic effects of covid-19, weather conditions and terrorism, according to the PR.

Nyusi made these pronouncements as part of the opening of the seventh edition of the Gas and Energy Summit, organized by the Ministry of Mineral Resources and Energy, through the National Hydrocarbons Company.

The PR noted that the government is betting on agriculture and agro-processing, along with the fisheries sector to develop the economy. In these areas "we have recorded the growth of production of various crops, moving towards food sufficiency in a record of real growth of 4% in 2021 and with a weight close to 20% of GDP.

Filipe Nyusi said that this effort aims to reduce the risks of excessive dependence on the extractive sector, which has a high degree of economic risk and volatility, such as the hydrocarbon sector.