The Executive has announced that an investment of 340.9 billion dollars will be needed to implement the five priority pillars of the National Development Strategy (ENDE) 2025-2044 and achieve the goal of almost 10% economic growth in Mozambique.
The document, quoted by Lusa, which will be discussed in Parliament in the coming weeks, revises upwards the needs identified previously, when the strategy was approved in June 2024, when at the time the investment needs were 279.6 billion dollars.
“It’s a shared commitment to the country’s future. By implementing this strategy, Mozambique strengthens its capacity to face the challenges of the present and build a prosperous and sustainable future for all its citizens,” says the document, which has already been revised by the current government led by Daniel Chapo.
The first version of the document was drawn up before the general elections of October 9, 2024, which were followed by several months of social unrest and street protests against the electoral process, which caused around 390 deaths and had a strong impact on the Mozambican economy.
The recent version of ENDE, which recognizes these economic and social impacts of the post-election social unrest, defines the pillars for the next 20 years as Structural Transformation of the Economy, with investments of almost 114 billion dollars, and Social and Demographic Transformation, with 70.8 billion dollars.
Mozambique’s economy is based on agriculture, mining and gas and oil exploration
The document also includes the pillars of Infrastructure, Organization and Territorial Planning, with investments of 56 billion dollars, National Unity, Peace, Security and Governance, with 52.6 billion dollars, and Environmental Sustainability, Climate Change and the Economy, with 48.3 billion dollars.
“Mozambique’s economic growth over the next two decades will be influenced by various factors, including the impact of oil and gas projects and structural reforms in key sectors such as agriculture, industry and services.”
The implementation of the strategy foresees an average annual growth rate in Gross Domestic Product (GDP) of 4.6% by 2028, reaching 7.1% by the end of 2034, rising to 8.7% in 2039 and 9.9% by 2044. Regarding the unemployment rate, the document sets the goal of going from the current average of 18.4% to 10.5 by 2044.
“Mozambique’s economic growth projections for the next 20 years highlight the need for continued investment in infrastructure, industrialization and modernization of the productive sectors, while the baseline scenario predicts more moderate and gradual growth.”
