Fitch forecasts Mozambican GDP will grow by 2.8 pct in 2021

Fitch Ratings says it expects the Mozambican economy to begin next year a gradual recovery from the present slump.

The credit rating agency issued a note saying it forecasts that annual growth in Mozambican real gross domestic product will reach 2.8 percent next year and 3.3 percent the year after.

The note says: “The resumption of infrastructure projects that were delayed this year could boost growth next year above our baseline, although uncertainty remains around the timeframe for their implementation.”

Fitch Ratings forecasts that the Mozambican economy will shrink by 1 percent this year, squeezed by the weak performance of extractive industries and the harm done by the Covid-19 pandemic, having grown by just 2.2 percent last year, hampered by damage caused by two cyclones, its note says.