Moza sees 10 percent growth

Speaking during a Press briefing on the activities car-ried out in the first six months of 2006, Ms Diogo said “this growth rate is remarkable, if one takes into account the influence of several negative factors dictated by the inter-national situation”.

Talking about the activities under the Social and Economic Plan (PES), Ms Diogo said the growth was sus-tained by a controlled budget execution, with expenditure within set parameters.

She noted a general stabilisation of prices, despite the volatility of oil mar-kets, at international level, the threat of bird flu, crisis in the Middle East, fac-tors that were not enough to refrain the growth of the national economy.

Ms Diogo described the first six months of 2006 as a period of consolida-tion of national strategies and encourage-ment, adding that during this period there was a drop in the accumu-lated of inflation of 4,6 percent, against 1,4 compared with a similar period of last year.

For the current year the government has projected an annual growth of 8,2 percent and an inflation rate of 7 per-cent.

Regarding the exchange rate, Ms Diogo said that it recorded a variation of 1,54 percent against the American dol-lar, and a depreciation of 6,84 against the South African rand.

Ms Diogo also said that the exports recorded a remarkable growth, reaching US$534,6 million during the first quar-ter of 2006, being the reason why the government believes that it will surpass US$791,9 million reached in the first half of 2005.

She said that the agricultural produc-tion recorded a growth of 9,7 percent. On the other hand, the major growth was recorded in the business sector, which reached 22,4 percent until May 2006, compared with 3,8 per cent by April 2005, when the family sector recorded a growth of 8,6 percent, against 7,8 per-cent during the same period in the previ-ous year.

Taking into account that the agricul-tural sector still represents the basis for the development of the country, accord-ing to Ms Diogo, this growth showed there was still a lot of work to be done before Mozambique reaches higher growth rates.

The Mozambican government was committed to give priority to the agri-cultural sector. – Aim-New Ziana.

August 2006
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