The International Monetary Fund (IMF) expects Mozambique’s economy to grow 7 percent this year while inflation will also surge.
“Mozambique’s economic performance remains robust and stronger than most other Sub-Saharan African countries,” said Alex Segura-Ubiergo, who led an IMF mission for a two-week trip in Mozambique.
“Growth is expected to reach 7 percent in 2015,” he added in a statement, further noting the country’s growth could expand by an average of 8 percent between 2016 and 2019.
The government’s plans to develop the oil and gas sector in the Rovuma basin, with investments up to US$100 billion, will represent “one of the largest investments ever seen in Africa,” Mr Segura-Ubiergo added.
But he also noted that Mozambique’s inflation is expected to jump to 5.5 percent this year from 1.1 percent in 2014.