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Mozambican government negotiates relaunch of the Moamba-Major dam works

The Mozambican government is negotiating with three international companies to conclude works on the Moamba-Major dam in Maputo province, the National Director of Water Resources Management (DNGRH), Messias Macie told Mozambican newspaper Notícias.

The Moamba-Major dam, whose foundation stone was laid in 2014, will have capacity to store 760 million cubic metres of water, control the flow of the Incomati river, increase water supply to the cities of Maputo, Matola and Ressano Garcia and have a power plant to produce 15 megawatts of electricity.

 

Mozambique’s economy expected to grow 3.5% to 4% in 2018 – IMF

The short-term outlook for the Mozambican economy is a gradual recovery in economic activity and controlled inflation, with real GDP growth of 3.5% to 4% expected in 2018, and 4.0 % to 4.5% in 2019, according to the International Monetary Fund (IMF).

The stronger-than-expected recovery in the agricultural sector, as well as mining production, allowed Mozambique’s Gross Domestic Product to grow by 3.75% in 2017, an increase of 75 basis points over the previous forecast.

An IMF staff team led by Ricardo Velloso visited Mozambique from 25 July to 3 August 2018 to assess recent macroeconomic developments, update the macroeconomic framework for 2018/19 and provide input for the preliminary budget for 2019.

At the end of the visit, the mission issued a statement saying it expects this recovery to be supported by further reductions in interest rates based on the favourable inflation scenario, that inflation will remain low at 6.5% in 2018, that it will fall to 5.5% in 2019 and that international reserves will remain at comfortable levels in 2018 and 2019.