{"id":19046,"date":"2022-05-06T15:51:29","date_gmt":"2022-05-06T15:51:29","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025"},"modified":"2022-05-06T16:10:29","modified_gmt":"2022-05-06T16:10:29","slug":"standard-bank-foresees-average-growth-of-3-7-per-year-until-2025","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025","title":{"rendered":"Standard Bank foresees average growth of 3.7% per year until 2025"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Standard Bank Mozambique expects Mozambique\u2019s economy to grow at an average of 3.7% per year between 2022 and 2025, a \u201cslow\u201d rate of growth given the country\u2019s poverty rate, said F\u00e1usio Mussa, the bank\u2019s chief economist. [You may read the full Standard Bank\u2019s Mozambique Economic Briefing, \u2018Macro- economic up-date & outlook \u2018, HERE]<\/p>\n

The official was speaking in Maputo on Thursday at Standard Bank\u2019s Economic Briefing, a public event analysing the economic situation in Mozambique.<\/p>\n

The country \u201ccannot grow alone\u201d and \u201cthe Government has already understood the message\u201d, he underlined, pointing out the need to attract foreign investment as key to accelerating development.<\/p>\n

Standard Bank predicts gross domestic product (GDP) growth rates of 2.8% this year (excluding the impact of the war in Ukraine and global inflation risks), 3.7% next year, 4.1% in 2024 and 4.3% in 2025.<\/p>\n

Mozambique does not, according to Standard Bank\u2019s forecasts, escape the context of rising global prices, but will still have a \u201csingle-digit\u201d inflation rate by the end of the year, said F\u00e1usio Mussa. This is because of monetary policy; the offset is high interest rates, which only affect part of the population, in the face of a vast majority of people who are poor and very sensitive to inflation.<\/p>\n

So, after a spike this year, Standard Bank predicts a pullback in inflation, with rates of 9.4% in 2022, 7.3% (2023), 6.5% (2024) and 5.9% (2025).<\/p>\n

The bank\u2019s chief economist reiterated the importance of diversifying the economy so that Mozambique is no longer dependent almost entirely on a reduced range of products or sectors \u2013 as is foreseen in relation to gas megaprojects.<\/p>\n

According to the World Bank, between 62% and 63% of the Mozambican population lives in poverty, and Bernardo Apar\u00edcio, newly appointed CEO of Standard Bank (in office since April 1), a speaker at the event, pointed to job creation in various sectors as a solution.<\/p>\n

The leap to \u201ca middle-income country\u201d could happen with \u201ca strategy localising [in the country] much of the production of what is consumed in Mozambique, and increasing industrialisation,\u201d Apar\u00edcio said.<\/p>\n

Only by promoting the \u201crest of the value chain\u201d will \u201cmore jobs\u201d be created, capturing the informal economy, in which the majority of the population lives.<\/p>\n

The challenge \u201cfor everyone in this room\u201d is to convert foreign direct investment into investment that creates jobs, Apar\u00edcio underlined.<\/p>\n

According to him, \u201cit is easy\u201d to be in large projects, but \u201cthere is an opportunity\u201d to focus on value chains, where small and medium-sized companies are present, and it is up to the bank to support this \u201cecosystem\u201d.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Standard Bank Mozambique expects Mozambique\u2019s economy to grow at an average of 3.7% per year between 2022 and 2025, a \u201cslow\u201d rate of growth given the country\u2019s poverty rate, said F\u00e1usio Mussa, the bank\u2019s chief economist. [You may read the full Standard Bank\u2019s Mozambique Economic Briefing, \u2018Macro- economic up-date & outlook \u2018, […]<\/p>\n","protected":false},"author":84,"featured_media":19045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-19046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nStandard Bank foresees average growth of 3.7% per year until 2025 - Mozambique<\/title>\n<meta name=\"description\" content=\"Standard Bank Mozambique expects Mozambique\u2019s economy to grow at an average of 3.7% per year between 2022 and 2025, a \u201cs ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Standard Bank foresees average growth of 3.7% per year until 2025\" \/>\n<meta property=\"og:description\" content=\"Standard Bank Mozambique expects Mozambique\u2019s economy to grow at an average of 3.7% per year between 2022 and 2025, a \u201cs ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-06T15:51:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-06T16:10:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-627548191ee9c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Standard Bank foresees average growth of 3.7% per year until 2025\",\"datePublished\":\"2022-05-06T15:51:29+00:00\",\"dateModified\":\"2022-05-06T16:10:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025\"},\"wordCount\":440,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-627548191ee9c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/standard-bank-foresees-average-growth-of-3-7-per-year-until-2025\",\"name\":\"Standard Bank foresees average growth of 3.7% per year until 2025 - 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