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FocusEconomics consultancy has revised Mozambique’s growth forecast upwards, now expecting a 3.7% expansion in 2019, up 0.2 points from its October forecast.
“We expect growth to accelerate next year, backed by solid investment activity underpinned by robust final investment decisions, particularly in the field of liquefied natural gas megaprojects,” FocusEconomics analysts write in their December report on African countries.
In the document sent to investors and to which Lusa had has access, the Barcelona-based consultants warn that “the heavy debt burden will continue to overshadow the economic outlook”, which is expected to grow by 4.2% by 2020.
For the time being, Mozambique has registered a slight slowdown in growth in the third quarter, which fell to 3.2% over the same period last year, a drop of 0.1 points from the 3.3% increase in the second quarter of this year.
“The July to September expansion was sustained by strong expansion in the extractive industry and healthy growth in services,” FocusEconomics notes, warning that the current account deficit has almost doubled over the third quarter of 2018.
This has happened, they conclude, because of “substantially higher imports, particularly of fuels, which is likely to lead to a deterioration of numbers for the year overall”.Source: Lusa
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