Mozambique: Government Envisages Average Inflation Rate of 6.5 Percent in 2024

12 June 2023
Agencia de Informacao de Mocambique (Maputo)

Maputo — The Mozambican Ministry of Economy and Finance (MEF) envisages an average annual inflation rate of 6.5 percent in 2024, taking into account the tightening of national monetary policy.

According to the Deputy Minister of Economy and Finance, Carla Louveira, in subsequent years, namely 2025 and 2026, the inflation rate will be in the range of 5.5 percent and five percent, respectively.

"The stability of the metical against major currencies, the deceleration of international fuel prices, associated with the tightening of monetary policy has contributed to containing inflation to single-digit trajectory in the medium term. We predict an average inflation rate of 6.5% in 2024', said the deputy minister.

"We also expect an expansion of public investment in the coming years, to be influenced by the easing of external financing constraints with the new programme with the International Monetary Fund (IMF) under the Extended Credit Facility, which aims to promote sustainable, inclusive growth and long-term macroeconomic stability', she said.

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