Mozambique
Mozambique has been reported as a post-war rehabilitation success. Since the end of the civil war in 1992, the country has embarked upon a series of impressive macroeconomic and structural reforms that have resulted in a remarkable rate of economic growth over the last five years. Mozambique’s economic growth is however very volatile. This volatility reflects the structural fragilities of its productive basis, the concentration on farming or agriculture-based industries, and a geographical location that makes the country vulnerable to natural disasters, as patently demonstrated by the 2000 and 2001 floods and the 2002 drought…
Peer review and public-private partnerships hinge on transparency. Transparency is about commonly shared knowledge about the economy, its performance, and the way policy influences it. The Composite Indicator of Economic Activity in Mozambique (ICAE) is a tool of knowledge whose construction is based on an established methodology in the construction of business cycles indicators amongst countries that have such tradition. Its construction was primarily motivated by the need to enhance constructive dialogue between domestic private and public sector agents in Mozambique, by providing them with a common tool of knowledge about the long-term and short- to medium-term performance and prospects of the economy, and how this relates to policy. Due to its comparability with similar indicators that exist for the country economies of key Mozambique foreign private and public sector partners, the ICAE is also a potentially useful tool of constructive peer review, within the NEPAD framework ...
SINCE THE END OF A DEVASTATING WAR in 1992, Mozambique has recorded one of the world’s highest growth rates, averaging 8.1 per cent from 1993 and continuing in 2003 and 2004. Owing to high population growth and the very low initial level in 1993, however, Mozambique’s per capita income remains among the lowest in the world at $229 in 2003. Poverty has decreased sharply but more than 50 per cent of the population is still classified as...
Le Mozambique offre un modèle de redressement après un conflit armé, avec une impressionnante croissance économique (8 pour cent en moyenne sur la dernière décennie), et une grande stabilité politique. La vigueur de la croissance (7.7 pour cent en 2005) tient essentiellement à des « mégaprojets » financés par des capitaux étrangers et à des apports d’aides massives. L’agriculture apporte, elle aussi, une contribution de plus en plus importante, malgré un épisode de sécheresse qui a gravement touché le sud du pays. Les perspectives pour 2006 et 2007 sont favorables. La croissance devrait atteindre 7.9 et 7.3 pour cent respectivement, soutenue par une nouvelle vague de mega-projectos dans les mines de titane et une solide progression du BTP et de l’agriculture.
Mozambique remains a model of successful postconflict transition, with impressive economic growth averaging 8 per cent over the past decade and sustained political stability. Strong economic growth, reaching 7.7 per cent in 2005, continues to be driven primarily by foreign-financed “mega-projects” and large aid inflows. Agriculture is also increasingly contributing to economic growth, despite a drought that has caused severe hardship in the southern part of the country. The outlook for 2006 and 2007 is favourable, with growth expected at 7.9 and 7.3 per cent respectively...
Mozambique is undergoing a number of major reforms in the public sector including reform of the public finance management system. This article describes the environment before the budget reforms, highlighting the weaknesses in budget planning and preparation, budget implementation and the governance framework including the weak oversight role of Parliament. A legal framework was put in place as a first step. Underlying systemic problems were addressed to allow clearer linkages between budgets and service delivery. Then budget planning reforms were introduced. The article discusses the nature of the major technical reforms, considers the governance framework and provides an assessment of the effectiveness of the reforms.
MOZAMBIQUE REMAINS A SUCCESSFUL example of post-conflict transition, with impressive economic growth averaging 8 per cent from 2000 to 2006 and sustainedmacroeconomic and political stability. Strong economic growth continues to be driven primarily by foreign-financed “mega-projects” and large aid inflows.
Mozambique: Real GDP Growth and Per Capita GDP (USD/PPP at current prices) appears in African Economic Outlook 2009.
Mozambique: Stock of Total External Debt (percentage of GDP) and Debt Service (percentage of exports of goods and services) appears in African Economic Outlook 2009.
AFTER AVERAGING 8.6 PER CENT SINCE the beginning of the decade, growth in Mozambique fell to 6.2 per cent in 2008 because of disruptive floods and energy shortages. The economy is likely to be relatively shielded from the direct impacts of the current world financial crisis because its financial system is poorly integrated into world capital markets. However, growth is expected to slow in 2009 to 4 per cent as a consequence of falling world demand for commodities, foreign direct investment (FDI) flows and public investment financed with external assistance. It will rebound to 5.2 per cent in 2010, assuming a partial recovery of the international economy and further expansion of agriculture. Inflation rose to 10.4 per cent in 2008 because of high food and fuel prices but it is expected to fall in 2009 following the decline in international prices.
ALORS QU’ELLE ÉVOLUAIT À UNE MOYENNE annuelle de 8.6 pour cent depuis le début de la décennie, la croissance du Mozambique est retombée à 6.2 pour cent en 2008, le pays ayant connu de graves inondations et des pénuries d’électricité. L’économie devrait être relativement protégée des turbulences financières internationales, étant peu intégrée au marché mondial des capitaux. Cependant, la croissance devrait encore ralentir et se situer à 4 pour cent en 2009, en raison de la baisse conjuguée de la demande mondiale de matières premières, des investissements directs étrangers (IDE) et des investissements publics financés grâce à l’aide extérieure. Les prévisions de croissance pour 2010, estimées à 5.2 pour cent, sont basées sur les hypothèses d’un redémarrage de l’économie mondiale et de la poursuite du développement de l’agriculture. L’inflation a grimpé à 10.4 pour cent en 2008, poussée par les prix élevés des denrées alimentaires et des carburants ; elle devrait refluer en 2009 dans le sillage des prix internationaux.