{"id":35243,"date":"2023-03-09T07:36:00","date_gmt":"2023-03-09T07:36:00","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023"},"modified":"2023-03-09T07:36:00","modified_gmt":"2023-03-09T07:36:00","slug":"mozambiques-gdp-projected-to-grow-by-6-5-in-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023","title":{"rendered":"Mozambique\u2019s GDP projected to grow by 6.5% in 2023"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>The growth in Mozambique\u2019s real Gross Domestic Product (GDP) is forecast to accelerate from an estimated 4.1% in 2022 to 6.5% in 2023, largely as a result of activity in the new liquified natural gas sector, according to Fitch Solutions, a consultancy agency in the financial field.<\/p>\n<p>\u201cWe see government and private consumption supporting economic growth in 2023, although high inflation will cap improvement in consumer demand\u201d, reads the document.<\/p>\n<p>According to Fitch Solutions, Mozambique\u2019s current account deficit will narrow from an estimated 22.2% of GDP in 2022 to 4.9% in 2023 due to output from liquified natural gas (LNG).<\/p>\n<p>\u201cWe forecast that the real GDP of Mozambique will reach 6.5 per cent in 2023, as the natural gas sector will flourish, and we also foresee that government and private consumption will grow although the gains are limited by inflexion\u201d, says Fitch.<\/p>\n<p>Fitch also believes that the Bank of Mozambique will hold its benchmark interest rate at the current 17.25 percent for the rest of the year, and that the exchange rate of about 64 meticais to the US dollar will remain stable.<\/p>\n<p>The report also says that the armed conflict in the northern province of Cabo Delgado is the major political risk to Mozambique \u201cbut we believe that the legislation recently approved, giving power to local militia to fight the terrorists may increase marginally the counter-insurgency in the coming months.\u201d<\/p>\n<p>Source: AIM<\/p>\n<p>\u201cWe see government and private consumption supporting economic growth in 2023, although high inflation will cap improvement in consumer demand\u201d, reads the document.<\/p>\n<p>According to Fitch Solutions, Mozambique\u2019s current account deficit will narrow from an estimated 22.2% of GDP in 2022 to 4.9% in 2023 due to output from liquified natural gas (LNG).<\/p>\n<p>\u201cWe forecast that the real GDP of Mozambique will reach 6.5 per cent in 2023, as the natural gas sector will flourish, and we also foresee that government and private consumption will grow although the gains are limited by inflexion\u201d, says Fitch.<\/p>\n<p>Fitch also believes that the Bank of Mozambique will hold its benchmark interest rate at the current 17.25 percent for the rest of the year, and that the exchange rate of about 64 meticais to the US dollar will remain stable.<\/p>\n<p>The report also says that the armed conflict in the northern province of Cabo Delgado is the major political risk to Mozambique \u201cbut we believe that the legislation recently approved, giving power to local militia to fight the terrorists may increase marginally the counter-insurgency in the coming months.\u201d<\/p>\n<p>Source: AIM<\/p>\n<p>According to Fitch Solutions, Mozambique\u2019s current account deficit will narrow from an estimated 22.2% of GDP in 2022 to 4.9% in 2023 due to output from liquified natural gas (LNG).<\/p>\n<p>\u201cWe forecast that the real GDP of Mozambique will reach 6.5 per cent in 2023, as the natural gas sector will flourish, and we also foresee that government and private consumption will grow although the gains are limited by inflexion\u201d, says Fitch.<\/p>\n<p>Fitch also believes that the Bank of Mozambique will hold its benchmark interest rate at the current 17.25 percent for the rest of the year, and that the exchange rate of about 64 meticais to the US dollar will remain stable.<\/p>\n<p>The report also says that the armed conflict in the northern province of Cabo Delgado is the major political risk to Mozambique \u201cbut we believe that the legislation recently approved, giving power to local militia to fight the terrorists may increase marginally the counter-insurgency in the coming months.\u201d<\/p>\n<p>Source: AIM<\/p>\n<p>\u201cWe forecast that the real GDP of Mozambique will reach 6.5 per cent in 2023, as the natural gas sector will flourish, and we also foresee that government and private consumption will grow although the gains are limited by inflexion\u201d, says Fitch.<\/p>\n<p>Fitch also believes that the Bank of Mozambique will hold its benchmark interest rate at the current 17.25 percent for the rest of the year, and that the exchange rate of about 64 meticais to the US dollar will remain stable.<\/p>\n<p>The report also says that the armed conflict in the northern province of Cabo Delgado is the major political risk to Mozambique \u201cbut we believe that the legislation recently approved, giving power to local militia to fight the terrorists may increase marginally the counter-insurgency in the coming months.\u201d<\/p>\n<p>Source: AIM<\/p>\n<p>Fitch also believes that the Bank of Mozambique will hold its benchmark interest rate at the current 17.25 percent for the rest of the year, and that the exchange rate of about 64 meticais to the US dollar will remain stable.<\/p>\n<p>The report also says that the armed conflict in the northern province of Cabo Delgado is the major political risk to Mozambique \u201cbut we believe that the legislation recently approved, giving power to local militia to fight the terrorists may increase marginally the counter-insurgency in the coming months.\u201d<\/p>\n<p>Source: AIM<\/p>\n<p>The report also says that the armed conflict in the northern province of Cabo Delgado is the major political risk to Mozambique \u201cbut we believe that the legislation recently approved, giving power to local militia to fight the terrorists may increase marginally the counter-insurgency in the coming months.\u201d<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. The growth in Mozambique\u2019s real Gross Domestic Product (GDP) is forecast to accelerate from an estimated 4.1% in 2022 to 6.5% in 2023, largely as a result of activity in the new liquified natural gas sector, according to Fitch Solutions, a consultancy agency in the financial field. \u201cWe see government and private [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":35242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-35243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mozambique\u2019s GDP projected to grow by 6.5% in 2023 - Mozambique<\/title>\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\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique\u2019s GDP projected to grow by 6.5% in 2023\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Mozambique. The growth in Mozambique\u2019s real Gross Domestic Product (GDP) is forecast to accelerate from an estimated 4.1% in 2022 to 6.5% in 2023, largely as a result of activity in the new liquified natural gas sector, according to Fitch Solutions, a consultancy agency in the financial field. \u201cWe see government and private [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023\" \/>\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=\"2023-03-09T07:36:00+00:00\" \/>\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=\"4 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\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique\u2019s GDP projected to grow by 6.5% in 2023\",\"datePublished\":\"2023-03-09T07:36:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023\"},\"wordCount\":842,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/03\/Kakuti1678334775.263061.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-gdp-projected-to-grow-by-6-5-in-2023\",\"name\":\"Mozambique\u2019s GDP projected to grow by 6.5% in 2023 - 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