Mozambican Metical rises slightly against the Euro, US dollar
Business consultancy BMI Research forecasts that Mozambique’s economy will grow 3.6 percent this year and that inflation will fall from 15.4 percent in 2017 to 5.9 percent this year.
“We are forecasting that Mozambique’s GDP growth will be 3.6 percent in real terms in 2018, and that inflation will fall from 15.4 percent in 2017 to 5.9 percent in 2018,” reads an analysis from the British consultant on the Mozambican economy, where the dollar is expected to be worth around 64.32 meticais for the year as a whole.
In the analysis sent to investors yesterday, to which Lusa has had access, analysts at BMI Research write that “Mozambique’s economic growth will accelerate this year due to falling inflation and currency stability, which will strengthen purchasing power”.
Growth, however, “will be far below the average between 2000 and 2015 due to the continued lack of external budgetary assistance and a smaller boost from the mining sector”.
Private consumption is expected to grow 4 percent this year and to grow on average 6.4 percent a year between 2018 and 2022, with a rise in the construction sector driven by the mega-projects under development in the country.Source: Lusa