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African Economic Outlook 2003

image of African Economic Outlook 2003

The African Economic Outlook is a joint project between the African Development Bank and the OECD Development Centre.  The project, initially funded by the EU, combines the expertise accumulated by the OECD and the knowledge of the African Development Bank on African economies. The objective is to review annually the recent economic situation and the short-term likely evolutions of selected African countries.  The Outlook is drawn from a country-by-country analysis based on a unique analytical design.  This common framework includes a forecasting exercise for the current and the following year using a simple macroeconomic model, together with an analysis of the social and political context.  It also contains a comparative synthesis of African country prospects.  A statistical appendix completes the volume.  Decision-makers and economists in African and OECD countries, both in the public and private sectors, aid agencies and investors will all find this volume of significant interest.

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Mozambique

OECD Development Centre

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…

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