Africa-Press – Mozambique. The Mozambican government forecasts an economic growth of 2.9% in 2022, according to the proposed State Budget for next year, an official source announced lastFriday.
The forecast is more optimistic than that of the International Monetary Fund (IMF), which this week pointed to a 2.5% growth.
Most forecasts point towards a return to growth, after the country registered a 1.28% contraction in 2020 as a result of the Covid-19 pandemic.
This year, the National Institute of Statistics (INE) has already presented data to June, indicating that Mozambican GDP grew by 1.05% in the first half of 2021.
The proposals for the Economic and Social Program and State Budget for 2022 were approved on Thursday at an extraordinary meeting of the Council of Ministers and will now be sent to parliament.
The new parliamentary session starts on Wednesday of next week, (20-10), and will run until December, as usual.
The Economic and Social Program and State Budget for 2022 also predict average annual inflation of 5.3%, revenue totalling 293 billion meticais (€3.9 billion) and expenditure of 450 billion meticais (€6 billion). This will produce a deficit of 157 billion meticais (€2.1 billion) – about 14% of GDP.
The Mozambique Liberation Front (Frelimo), the party in power continuously for the 45 years since independence, has a qualified majority of 184 of the 250 seats that make up the Assembly of the Republic. The Mozambican National Resistance (Renamo) holds 60 seats, and the Democratic Movement of Mozambique (MDM), six.
