The Oxford Economics consultancy has revised upwards the growth prospects of the Mozambican economy, now anticipating growth of around 4.4%.
The Oxford Economics consultancy revised upwards this Sunday the growth prospects of the Mozambican economy, now anticipating growth of around 4.4% due to the acceleration of the establishment of infrastructures, mainly in Cabo Delgado.
“The growth of the Gross Domestic Product surprised us significantly in the first half of this year, which will lead us to increase our growth forecast for the year from 3.6% to close to 4.4%,” the analysts write in a Comment on the evolution of the Mozambique economy in the first six months of this year.
In the comment sent to its clients and to which Lusa had access, the African department of the British Oxford Economics writes that “the Coral South liquefied natural gas project can increase total natural gas production by a value that could reach 63% “, which, together with the reconstruction of infrastructures, supports the revision of the growth estimate for the economy.
“In addition to the evolution of the liquefied natural gas sector, we anticipate that infrastructure investments related to the expansion of the electricity grid and the reconstruction of damaged infrastructure in Cabo Delgado will also support economic growth this year,” says Oxford Economics.
This consultancy had already postponed the forecast for the resumption of the works of TotalEnergies, at the end of this year, to the first half of 2024, “due to reports that the project faces disagreements between contractors on costs”, which indicates Oxford Economics. . Africa expects “a lower level of construction and fixed investment spending in the second half”, but even so the growth in the first half is sufficient to offset this reduction.
Mozambique grew by 4.7% in the second quarter of this year, accelerating from the 4.2% registered in the first quarters of the year, compared to the same period of the previous year.
Source: Observadora
