Muteia on paving the way to Mozambique’s economic transformation
Mozambique GDP rose 1.97% last quarter – INE
6:50 CAT | 01 Sep 2021
in file CoM
Mozambique’s Gross Domestic Product (GDP) registered growth of 1.97% in the second quarter of this year compared to the same period in 2020, according to National Statistics Institute (INE) data Lusa has seen.
It is the second consecutive quarter of growth, after a 0.12% rise in the first quarter of 2021, signalling a recovery from the crisis caused by the Covid-19 pandemic.
“The performance of economic activity in the second quarter of 2021 is attributed in first place to the tertiary sector, which grew by 2.82%, with greater emphasis on the Hotel and Restaurant sector, with a variation of 4.03%,” the INE notes.
The leap also reflects the fact that this has so far been one of the sectors most impacted by the effects of the pandemic.
All branches of activity recorded growth in the second quarter, with the exception of electricity and water supply, which fell by 9.77%.
In accumulated terms, Mozambican GDP grew by 1.05% in the first half of 2021.
The State Budget for 2021 forecasts economic growth of 2.1%, but the document was approved in late 2020, three months before the Total-led LNG project in the north of the country was suspended indefinitely due to insecurity in Cabo Delgado province.
Along with Covid-19, the conflict in the north poses a heightened risk as the country tries to free itself from the third wave of infections.
Mozambique had by Monday reported 1,851 Covid-19 deaths from 145,863 cases, of which 90% were registered as recovered and 147 remained hospitalised.
Source: Lusa
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