Fitch affirms Mozambique's Foreign Currency IDR at 'RD'
TVM (File photo) / President Filipe Nyusi
The president says that the Mozambican economy could grow by 7 percent in 2018 and 9 percent a year by 2023. For this to happen, President Nyusi calls on Mozambicans to have a hard-working and goal-oriented 2017.
Speaking yesterday at the year-end toast at Ponta Vermelha, President Nyusi renewed his hopes after an atypical 2016, assuring Mozambicans that the country’s future economic scenario is looking good. For the president, energy resources and other project sectors will be the main bases for the recovery of the Mozambican economy.
“It is becoming clear that, despite severe setbacks, Mozambicans and the national and foreign private sector will continue to be involved in production. Institutions continue to function and we are building the economic and social infrastructure that is the foundation for compliance with the government’s program. This is how we conclude that the state of the nation is firm.
“For Mozambican men and women, the coming year brings hopes of economic recovery and financial and social stability. This will require much work and the unity of all. We learn from the school of life in our work that difficult and complex moments like the ones we are currently experiencing require courageous, bold and structured decisions that are not always well understood.
“It is in this perspective of economic efficiency that the Mozambican government has chosen certain areas to concentrate our investment, so that they can have a catalytic, multiplier role in economic development, namely agriculture and agro-processing, tourism, infrastructure development and energy.
“On the other hand, we have chosen the 2016/2017 agricultural campaign as a moment for the mobilisation of government at all levels, as well as economic agents, producers and society in general. That is how we predict that, starting in 2018, the national economy will be growing by around 7 percent again and by 9 percent in 2023, when all the gas projects are operational.
“The impact of these measures is the reduction of the state’s contribution to the gross domestic product, which is expected to fall from around 43 percent in 2014 to 34 percent in 2017.
“On the revenue side, we are focusing on the modernisation of tax collection and the enlargement of tax base without raising tax rates. The aim of this policy is to complement monetary measures to curb inflation and thus contribute to lower interest rates, stimulating national investment and greater availability of credit in the private sector, a strategic partner in the implementation of the government’s program,” the president explained.
In the year-end toast, which took place in Ponta Vermelha, President Nyusi said that the country’s economy could grow 7 percent in 2018 and by 9 percent four years later. The president invited those present to roll up their sleeves and get to work.
After the toast, president Filipe Nyusi wished everyone a Happy New Year. In the company of his wife, he then mingled with the guests to the strains of the ‘Malta’ project, set to promote the good things in Mozambique and bringing together renowned Mozambican singers and musicians such as Cláudio Ismael, Ildo Ferreira, Doppaz, Lizha James, Miguel Chabindza, Mr Bow, Wazimbo, Roberto Chitsondzo, Humberto Luís, Júlia Duarte, Roberto Isaías, Hermínio, Euridse Jeque, Neyma, Sheila Mahoze, Isabel Novela, Tanselle, Mc Roger, Hortêncio Langa, Mimae, Gabriela, G2, Mr Kuka, Dama do Bling, Blaze, Liloca, Mabermuda and Zav.Source: O País
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