Mozambique’s finance minister cuts 2018 GDP forecast to 4.1 pct

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Mozambique’s finance minister cuts 2018 GDP forecast to 4.1 pct

10:47 CAT | 02 Oct 2018

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Mozambique’s economy will grow more slowly in 2018 than initially expected, by 4.1 percent compared to an earlier estimate of 5.3 percent, Finance Minister Adriano Maleiane told reporters on Tuesday.

The small southern African country’s economy saw gross domestic product expand by 3.7 percent in 2017.

Mozambique is battling to source finance for its large debt after being cut off by international donors over $1.4 billion of previously undisclosed loans.

Source: Reuters