The International Monetary Fund (IMF) expects the consortiums led by France's TotalEnergies and ExxonMobil to start producing gas in Mozambique in 2027 and 2029, respectively. The economist from the IMF's African department said that the start-up will have a positive impact on growth through production, tax revenues and the current account. Thibault...
Tag: Gross Domestic Product (GDP)
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Fitch sees Angola rising 2.71Q3 and public debt improving to 54.51Q3
Financial rating agency Fitch Ratings forecasts economic growth for Angola of 2.7% this year and 2.5% in 2024, the year in which public debt is expected to stand at 54.5% of GDP. "Fitch estimates that Angola's real Gross Domestic Product (GDP) growth will have accelerated from 0.7% in 2021 to 3.1%...
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G20 GDP grows 1.3% in Q3 and surpasses pre-pandemic
G20 GDP grew by 1.3% quarter-on-quarter in the third quarter of the year, recovering from the 0.3% contraction between April and June, and surpassing pre-pandemic figures, according to provisional estimates from the OECD. In a statement released today, the Organization for Economic Cooperation and Development (OECD) also said that the expansion in the G20 area...
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IMF encourages Mozambique to raise economic growth rates
The International Monetary Fund (IMF) congratulates the government's efforts for the resilience achieved in the global economic growth indices. The stability and fiscal prudence adopted by the executive, despite the impact of Undeclared Debts - Hidden Debts, cyclones IDAI and Keneth, and terrorism in Cabo Delgado, were the determining factors for the rise in the index,...
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CGE 2021 presents internal control deficiencies - TA
The General State Account (CGE) of 2021, presented by the Executive this week in the Assembly of the Republic, contains, according to the Administrative Court (TA) flaws that reflect the poor internal control of public accounts given weak audit in state institutions. Moreover, the TA considers that the Government has neither heeded nor complied with the recommendations...
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Fitch Ratings downgrades China's 2022 growth forecast to 2.8%
Financial ratings agency Fitch Ratings has lowered its estimate of China's low Fitch Ratings growth to 2.8% in 2022 in light of the impact of Covid-19 prevention measures and weakness in the real estate sector. Fitch's analysis "reflects a larger-than-expected decline in GDP [growth] [Product...
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Mozambique to grow above 6% from 2023 onwards - PR
The exploration of Liquefied Natural Gas (LNG), in the Rovuma Basin, in 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 from 2023, said today in Maputo, the President of the Republic (PR). "Between 2023 and 2025, it is expected...
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G20 GDP drops 0.4% in Q2
Gross domestic product (GDP) in the G20 fell 0.4% quarter-on-quarter in the second quarter of 2022, after growing 0.5% in the first quarter, according to provisional estimates from the OECD. In a statement released today, the Organisation for Economic Co-operation and Development (OECD) further states that the contraction in the G20 area contrasts with...
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Three million Mozambican children practice informal business
Informal business in Mozambique is practiced by about three million children, according to results of a survey by the National Institute of Statistics (INE), revealed by the National Director of Sectoral Statistics at INE, Adriano Matsinhe. "We found in this survey 2.7 million children in informal sector activities, in which 81% attended elementary school...
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Cyclone Idai wiped out 7% of Mozambique's annual GDP
Mozambique will lose seven percent of its Gross Domestic Product (GDP) in 2019 due to the economic impact of tropical cyclone Idai, according to the Japan International Cooperation Agency (JICA). Speaking today on the impact of climate change on the economy, JICA Mozambique Deputy Chief Representative Chiaki Kobayashi said this demonstrates the vulnerability of the...