News

Mozambique resilient to global macroeconomic uncertainty: Central Bank

Mozambique remains resilient to global macroeconomic challenges, said the Governor of the Bank of Mozambique, Ernesto Gove, on Friday.

Mr Gove said the economic results achieved by the country in 2014 highlight its ability to achieve the macroeconomic goals set for this year, despite the weak global economy, reported local newspaper Notícias.

Mozambique’s central bank estimates the country will achieve economic growth of 7.7 percent and inflation of 5.5 percent in 2015.

Mr Gove however acknowledged that Mozambique faces challenges to repeat last year’s economic performance, which included low inflation combined with strong gross domestic product growth.

Ongoing floods are affecting several areas of the country. About 150 people have already died due to the floods and the heavy rains have also damaged crops.

Fields are likely to remain inaccessible until flood waters drain away, which might not happen until the end of the rainy season in March.