Every year African countries lose up to 5% of their GDP as they bear a greater burden than the rest of the world due to climate change. The conclusion is contained in a report by the World Meteorological Organization, released on Monday. According to the report, many African nations spend up to 9% of their budgets on climate adaptation policies....
US Gross Domestic Product (GDP) exceeded expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed. The country's GDP increased at an annualized rate of 2.8% in the last quarter, the Bureau of Economic Analysis of the US Department of...
The current formula used to calculate the Gross Domestic Product (GDP) should be urgently revised to incorporate the foreign currency generated by the exploitation of mineral resources, argues the Minister of Transport and Communications, Mateus Magala. In Magala's view, the current model for estimating GDP is out of touch with reality "because it omits capital...
National micro, small and medium-sized enterprises (MSMEs) account for 23.4% of the country's Gross Domestic Product (GDP), contributing to the dynamism of the economy in various areas, the government said in parliament. The segment represents around 97.1% of all companies operating in Mozambique and employs around 46.4% of the country's workforce....
A report by the African Development Bank (AfDB) reveals that Mozambique must move forward with a large-scale mobilization of the private sector in order to achieve its climate action and "green growth" ambitions. In a report entitled "Mobilizing Private Sector Financing for Climate and Green Growth", launched on Thursday, quoted by Revista Terra,...
The US economy advanced 2.4% between April and June, at an annualized rate, registering growth in Gross Domestic Product (GDP) for the fourth consecutive quarter, the Commerce Department said today. The provisional data released today shows an acceleration compared to the 2.0% confirmed for the first quarter of the year and contrasts with...
The International Monetary Fund (IMF) believes that Mozambique's public debt could reach over 100% this year and next, despite the acceleration of economic growth to 5% and 8.2% in 2023 and 2024. According to the report on sub-Saharan Africa, released yesterday as part of the Annual Meetings of the IMF and...
Standard Bank Mozambique expects the country's GDP to grow by 4.2% in 2023 and annual inflation to reach 9.9%, chief economist Fáusio Mussá announced in a commentary released by the bank. "Although the risks remain high, we have adjusted our inflation forecast to 9.9%, in annual terms, at the end of 2023, after having...
China's Gross Domestic Product (GDP) for 2021 was 114.9 trillion yuan (15.52 trillion euros), according to an adjustment announced today by the country's National Bureau of Statistics. The agency increased the preliminary figures published in January this year by 556.7 billion yuan (75.113 million euros). After the adjustment, the...
British gross domestic product (GDP) rebounded by 0.5% in October, after a particularly sharp decline in the previous month, the UK's statistics office announced today. The good performance of British retail trade made the biggest contribution to GDP growth, with an increase of 1.9% in October, indicated the Office...