{"id":21910,"date":"2022-06-27T15:57:02","date_gmt":"2022-06-27T15:57:02","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank"},"modified":"2022-06-27T16:04:31","modified_gmt":"2022-06-27T16:04:31","slug":"promoting-agriculture-speeds-up-end-of-poverty-world-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank","title":{"rendered":"Promoting agriculture speeds up end of poverty \u2013 World Bank"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The World Bank has said that promoting agriculture is the fastest way to overcome poverty in Mozambique, given its economic potential and in light of a global scenario in which there are several threats to growth, reads the institution\u2019s latest report.<\/p>\n

\u201cAgricultural growth would reduce poverty and inequality three times faster than growth in any of the other sectors,\u201d the organisation said in the eighth edition of the report on economic activity in Mozambique, published on Thursday.<\/p>\n

The statement comes at a time when \u2013 for at least a decade \u2013 the country\u2019s expectations are for growth based on the Rovuma gas reserves \u2013 which start being tapped this year.<\/p>\n

Agriculture remains undeveloped, the World Bank notes. \u201cDespite its potential, agricultural productivity remains low by regional standards, with Mozambique having one of the lowest cereal yields per hectare, for example,\u201d the document said.<\/p>\n

In other words, \u201cwith adequate support, agriculture can be a sustainable source of growth, poverty reduction and food security.<\/p>\n

The World Bank suggests that four measures should be taken .<\/p>\n

Firstly, \u201cshifting agricultural support to public goods and services such as rural infrastructure, animal and plant health services, and agricultural research\u201d can provide higher income to the sector.<\/p>\n

It also advocates \u201cfull participation in regional free trade agreements\u201d to stimulate the sector\u2019s competitiveness.<\/p>\n

The World Bank also considers it necessary to \u201creduce implicit taxation on food and increase support for food food-insecure households\u201d and create \u201csmart subsidies\u201d by rewarding innovative projects.<\/p>\n

The World Bank expects economic growth to \u201caccelerate in the medium term\u201d in Mozambique, \u201creaching an average of 5.7% between 2022 and 2024\u201d, and believes that the scenario could be even more sustainable if there was the agricultural focus it suggests.<\/p>\n

For now, the growth that the institution foresees is based on \u201cthe start of production of liquid natural gas (LNG)\u201d off Cabo Delgado, scheduled for this year, and \u201cthe expected restart of larger LNG projects\u201d onshore \u2013 suspended a year ago following armed attacks in the province.<\/p>\n

The report points to a \u201crecovery in global demand and commodity prices\u201d to \u201csupport export growth\u201d in Mozambique.<\/p>\n

This growth associated with the entry of foreign capital, mainly linked to LNG, \u201cwill support investments,\u201d it said.<\/p>\n

World Bank sees Mozambique economy growing 5.7% on average between 2022 and 2024<\/b><\/p>\n

The agreement with the International Monetary Fund (IMF) announced this year to run until 2025, and \u201cbudgetary support from other development partners, will further help to strengthen economic recovery, whilst addressing debt and financing constraints. On the risk side, there are three \u201csubstantial\u201d threats.<\/p>\n

Rising import prices due to the conflict in Ukraine, new waves of Covid-19 and insurgency in the northern part of the country could put a brake on growth, the World Bank warned.<\/p>\n

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

Africa-Press – Mozambique. The World Bank has said that promoting agriculture is the fastest way to overcome poverty in Mozambique, given its economic potential and in light of a global scenario in which there are several threats to growth, reads the institution\u2019s latest report. \u201cAgricultural growth would reduce poverty and inequality three times faster than […]<\/p>\n","protected":false},"author":84,"featured_media":21909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,281,283],"class_list":["post-21910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nPromoting agriculture speeds up end of poverty \u2013 World Bank - Mozambique<\/title>\n<meta name=\"description\" content=\"The World Bank has said that promoting agriculture is the fastest way to overcome poverty in Mozambique, given its econo ...\" \/>\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\/promoting-agriculture-speeds-up-end-of-poverty-world-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Promoting agriculture speeds up end of poverty \u2013 World Bank\" \/>\n<meta property=\"og:description\" content=\"The World Bank has said that promoting agriculture is the fastest way to overcome poverty in Mozambique, given its econo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank\" \/>\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=\"2022-06-27T15:57:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-27T16:04:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/06\/img-62b9d4d7d83eb.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1104\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/promoting-agriculture-speeds-up-end-of-poverty-world-bank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Promoting agriculture speeds up end of poverty \u2013 World Bank\",\"datePublished\":\"2022-06-27T15:57:02+00:00\",\"dateModified\":\"2022-06-27T16:04:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank\"},\"wordCount\":469,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/06\/img-62b9d4d7d83eb.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/promoting-agriculture-speeds-up-end-of-poverty-world-bank\",\"name\":\"Promoting agriculture speeds up end of poverty \u2013 World Bank - 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