Mozambique’s economy experienced rapid growth in May, indicating progress towards sustainable development. Standard Bank Mozambique’s PMI survey highlighted increased production and employment due to rising demand.
The African Development Bank (AfDB) injected $1.3 billion into crucial sectors like energy and agriculture, supporting the nation against climate challenges. Nearly half of the funds are allocated to energy projects, followed by investments in roadways and agriculture.
The government is implementing a fiscal plan for 2025–2027 to ensure economic stability through diversified funding sources and careful debt management. In agriculture, a partnership with the Citrus Growers Association of Southern Africa aims to boost local farmers and establish Mozambique on the global citrus market map.
Despite challenges like financing constraints, Mozambique projects a positive economic outlook with modest export growth and manageable inflation. Forecasts predict a GDP growth of 4.6% in 2024, showing a promising path for Mozambique’s future economy.
These developments represent a balanced approach to sectoral growth and lay a resilient economic foundation for Mozambique.