Mozambique: Average 12M inflation to May shows first slowdown of year - INE
Mozambique’s gross domestic product (GDP) grew 2.5% in the first half of this year, the Mozambican government announced, calling the economy’s progress “moderate”.
Cabinet spokeswoman Ana Comoana announced in a statement issued in Maputo on Tuesday evening that inflation from January to June reached 3.83%, against 6.5% in the same period last year.
The figure for the first half of the year was therefore below the 6.9% initially forecast.
During the first six months of the year, the Mozambican state collected 104,607.2 million meticais in revenue (€1.5 billion) against expenditure of 133,267.8 million meticais (€1.9 billion).
Net international reserves increased by US$68 million (€60.8 million), currently sufficient to cover 5.7 months of imports of goods and services.
The Council of Ministers spokeswoman noted that the macroeconomic indicators recorded in the first half of this year reflect moderate economic performance, taking into account the adverse events that occurred in the country, namely the two cyclones that hit the northern and central regions and the drought in the south.
“The government will continue to make efforts to ensure the implementation of the Economic and Social Plan,” Ana Comoana said.Source: Lusa