Mozambique: ENI Open Day
Launch of Mozambique Economic Update and Mozambique Poverty Assessment
8:03 CAT | 30 October 2018
Launch of Mozambique Economic Update and Mozambique Poverty Assessment
Mozambique Economic Update : Shifting to More Inclusive Growth:
Mozambique is beginning to emerge from a period of elevated macroeconomic volatility two years after hidden debt revelations triggered a significant economic downturn, but with a reduced capacity for growth. Having averaged near 8 percent between 2005 and 2015, GDP growth dropped to 3.7 in 2017 and is projected to fall further to 3.3 percent in 2018 as slower growth in coal production is expected to offset any modest upturn in manufacturing and services. Fiscal consolidation is making progress, but debt levels continue to be a concern. In an analysis of the structure and drivers of Mozambique's growth over the past two decades, the report notes that progress in reducing poverty levels have come as the expense of rising inequality. Therefore, shifting the growth model to broaden the drivers of growth and to raise productivity in sectors with the highest employment potential is a primary challenge facing Mozambique's policy makers today.
Mozambique Poverty Assessment : Strong But Not Broadly Shared Growth:
Mozambique has experienced strong and sustained economic growth in the last two decades. Growth of its Gross Domestic Product (GDP) expanded at an annual average rate of 7.2 percent between 2000 and 2016, making it one of the fastest-growing countries in Sub-Saharan Africa (SSA). The economic expansion has boosted incomes and living standards. GDP per capita, for instance, grew annually on average by 4 percent over the same period, climbing from 561 US dollars to 1,128 US dollars (2011 PPP). Growth has been supported by a rebounding agricultural sector, particularly in the first phase of the post-war period, increased productivity in trade, transport and communications and financial services, sound macroeconomic management, large-scale foreign investments projects and significant donor support. More recently, however, growth has slowed down due mainly to macroeconomic factors and severe natural disasters.
Date and Time: Wednesday, October 31 2018 at 09h00
Address: Polana Serena Hotel, Av. Julius Nyerere no. 1380, Maputo
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