Mozambique Economy grows 4.1% in Q1 – INE

The Mozambican economy grew by 4.1% in the first quarter of this year, the biggest quarterly figure since June 2018, the National Statistics Institute (INE) announced yesterday.

Hotels and restaurants led the economic growth with the sector registering an 11.45% increase, followed by the extractive industry with 8.56% and transport and communications with 7.34%.

In a comment on the INE data, the Bank of Mozambique yesterday attributed the growth to the easing of Covid-19 restrictions, allowing the economy to revive.

The Mozambican economy grew by 2.16% in 2021. In the Economic and Social Plan and State Budget for 2022, approved by parliament in December before the global inflationary risks triggered by the war in Ukraine, the government predicted annual growth this year of 2.9%.

Source: Lusa

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