This Wednesday morning (2), the Governor of the Banco de Moçambique (GBM), Rogério Zandamela officially opened the 47th meeting of the Advisory Board of the Banco de Moçambique (47th CCBM), in Beira city, Sofala province.

For his part, Rogério Zandamela summarized the performance of the economy in the first 10 months of the current year, and present the macroeconomic prospects for 2023.  "We have started the year in an environment marked by some optimism driven by the upturn in internal and external demand and the recovery of the sectors most hindered by COVID-19, following the easing of restrictive measures.  Such optimism was further strengthened by the reconquest of our citizenship in international financial markets, following the conclusion of the agreement with the International Monetary Fund (IMF) of the new Expanded Credit Program, which contributed towards the resumption of direct support to the State Budget, and the rebuilding of confidence before investors worldwide", he stated.

According to Zandamela, by the first half of the year there was an improvement in economic activity, with the real gross domestic product growth rate standing at 4.6%, following a timid growth of 2.1% in the same period in 2021.  On the other hand, international reserves stood at about 3 trillion US dollars, enough to cover about five months of imports of goods and services until the end of the first semester.   Moreover, price stability remains ongoing, with inflation standing at a single digit by May 2022, against a backdrop of ongoing exchange rate stability.