Mozambican GDP will grow 4 pct this year, says S&P predicts

Standard & Poor’s expects economic growth in Mozambique will accelerate to 4 percent this year from 3.8 percent last year, Lusa reports.

The Portuguese news agency quotes the international rating agency as saying external pressures hampering the economy have weakened now that the Mozambican currency has strengthened and prices for aluminium and coal exports have risen.

S&P forecasts that Mozambican gross domestic product will grow at an average annual rate of 5.5 percent between this year and 2020.

S&P says Mozambique’s public-sector debt will be the equivalent of 128.1 percent of GDP this year, 125.6 percent next year, 119.3 percent in 2019 and 111.7 percent in 2020.