{"id":50222,"date":"2023-11-12T08:32:09","date_gmt":"2023-11-12T08:32:09","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf"},"modified":"2023-11-12T08:55:42","modified_gmt":"2023-11-12T08:55:42","slug":"mozambican-growth-remains-resilient-says-imf","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf","title":{"rendered":"Mozambican growth remains resilient, says IMF"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The International Monetary Fund (IMF) has claimed that Mozambique\u2019s economic growth \u201cremains resilient\u201d and believes that growth this year will reach six per cent.<\/p>\n

In a statement issued at the end last week of the visit by an IMF team, the team\u2019s leader, Pablo Lopez Murphy, said it had held \u201cconstructive and fruitful discussions\u201d with the Mozambican authorities \u201con the economic and financial policies\u201d needed to support completion of the Third Review under the Extended Credit Facility (ECF) arrangement.<\/p>\n

He regarded the outlook for the extractive sector as \u201cstrong\u201d since large liquefied natural gas (LNG) projects \u201care expected to resume activities, following sustained improvements in security conditions\u201d.<\/p>\n

However, \u201cgrowth in the non-extractive sector continued slowing, with manufacturing and construction contracting for the fourth consecutive quarter since June 2022\u201d.<\/p>\n

The statement claimed that after \u201cfiscal slippages\u201d in 2022, \u201cthe authorities have implemented a strong correction to help put fiscal policy back on track\u201d.<\/p>\n

\u201cThe domestic primary balance is projected at 0.8 percent of GDP this year, compared to a primary deficit of 2.8 percent of GDP in 2022\u201d, it continued.<\/p>\n

Annual inflation, said Lopez Murphy, had peaked at 12.1 per cent in August 2022, but had declined to 3.9 per cent in September 2023, \u201cmainly reflecting lower food and fuel prices, but also a deceleration in other domestic prices\u201d.<\/p>\n

The IMF clearly believes it is time for the Bank of Mozambique to cut its interest rates. \u201cThe decline in inflation combined with broadly unchanged nominal interest rates means that both the policy and market interest rates have risen to high levels in real terms, generating very tight financial conditions\u201d, said Lopez Murphy. \u201cWith inflation expectations well anchored, fiscal consolidation continuing, and weak non-extractive growth, a gradual easing of monetary policy could be considered\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. The International Monetary Fund (IMF) has claimed that Mozambique\u2019s economic growth \u201cremains resilient\u201d and believes that growth this year will reach six per cent. In a statement issued at the end last week of the visit by an IMF team, the team\u2019s leader, Pablo Lopez Murphy, said it had held \u201cconstructive and […]<\/p>\n","protected":false},"author":84,"featured_media":50221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-50222","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":"\nMozambican growth remains resilient, says IMF - Mozambique<\/title>\n<meta name=\"description\" content=\"The International Monetary Fund (IMF) has claimed that Mozambique\u2019s economic growth \u201cremains resilient\u201d and believes tha ...\" \/>\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\/mozambican-growth-remains-resilient-says-imf\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambican growth remains resilient, says IMF\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) has claimed that Mozambique\u2019s economic growth \u201cremains resilient\u201d and believes tha ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf\" \/>\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=\"2023-11-12T08:32:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-12T08:55:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/11\/sm_1699766566.883975.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"905\" \/>\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\/mozambican-growth-remains-resilient-says-imf#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambican growth remains resilient, says IMF\",\"datePublished\":\"2023-11-12T08:32:09+00:00\",\"dateModified\":\"2023-11-12T08:55:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf\"},\"wordCount\":303,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/11\/sm_1699766566.883975.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\/mozambican-growth-remains-resilient-says-imf#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambican-growth-remains-resilient-says-imf\",\"name\":\"Mozambican growth remains resilient, says IMF - 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