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Mozambique Records Economic Growth of 4.14% in the First Quarter

Mozambique Records Economic Growth of 4.14% in the First Quarter

The Mozambican economy recorded growth in the first quarter of the current year of around 4.14 percent, an indicator that confirms the recovery trend that started in 2021, with 2.1 percent, after a contraction of 1.2 percent in 2020.

The data were announced this Thursday, August 4, by the President of the Republic, Filipe Nyusi, while guiding the business meeting of the African Agenda, which took place in the city of Maputo.

According to Nyusi, the growth reported this year is to be reaffirmed in the second quarter that has just ended and was boosted by agriculture and livestock, with a contribution of almost 24%, trade and services with a weight of 14.4%, transport, logistics and communications with 9.6%, and manufacturing industry with a weight of 8.4%.

The President also said that the average annual inflation rate passed to 7.2% in June this year, although the single-digit difference reveals an upward trend compared to 5.7% in 2021.

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The African Agenda event was attended by businessmen and chief executive officers (CEOs) and chief executive officers of several companies.

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