The Mozambique’s Confederation of Economic Associations (CTA, in the Portuguese Acronym) stated that the Mozambique’s economy recorded in the last quarter of 2021 an increase in the business robustness index, going from 26% to 29%, and the employment trends index had an increase from 106.5% to 125.9%,. These figures, according to CTA, denote the “recovery of the national economy.”
Speaking during the Economic Briefing held on Wednesday (23 February) in the city of Nampula, Agostinho Vuma, president of the CTA, cited by “O País”, said that “this improvement essentially reflects the effect of the easing of restrictions under the prevention and fight against COVID-19 and the boost to aggregate demand resulting from the seasonal effect of the Christmas and holiday season”.
Nevertheless, Vuma warned that the employment scenario remained critical, as last year alone 11,000 jobs were lost, with Maputo and Inhambane at the top of the list. However, the trend towards economic recovery has also been reflected in the recovery of some previously lost jobs.
“As for the macroeconomic environment index, our assessment shows that this indicator has risen from 46% to 50%, reflecting exchange rate stability, reduction in benchmark interest rates and recovery in economic activity,” Vuma concluded his speech.
Note that recently there have been several growth forecasts for the Mozambican economy, from Oxford Economics (3.2%) to Fitch, which a few days ago improved its outlook for economic growth this year to 5 percent.
