Drought to Curb Mozambique, Malawi Growth, Renaiss

Date:

Growth in Mozambique and Malawi this year may miss forecasts by the International Monetary Fund as a lack of rain in southern Africa slows agricultural output, Renaissance Capital economist Yvonne Mhango said.

Late rains may curb food production in the two nations, where agriculture generates about a third of the gross domestic product Replica watches, Johannesburg-based Mhango wrote in an e-mailed note. This will “by implication push up prices,” she said.

Mozambique’s 2012 economic growth is estimated to be from 6.5 percent to 7 percent compared with the 7.5 percent projected by the IMF, while growth in Malawi, whose biggest foreign- currency earner is tobacco, is expected to “fall short of 4 percent versus the IMF’s forecast of 4.2 percent,” she wrote.

Mozambique’s national inflation rate declined to 6.14 percent in December compared with 8.6 percent a month earlier, the National Institute of Statistics said on Jan. 5. In Malawi, the world’s biggest producer of the burley variety of tobacco, prices increased 8.9 percent in November from 8.1 percent a month earlier, the statistics office said on Dec. 20.

(Visited 142 times, 1 visits today)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Featured Video

click to play

Popular

More like this
Related

Malawian Man Nabbed After He Was Caught Wearing A T-Shirt He Stole From A House He Broke Into Last Year

Ndirande resident, 18-year-old Francis Chimwaza, broke into a house...

Zimbabwean Man Catches His Wife With Boyfriend Bonking At A Lodge [Watch]

Ladies these days are going out of their matrimonial...

See The Woman Who Slept With 40 Men on Her 40th Birthday (Watch Video)

A yet-to-be-identified lady has revealed that she slept with...

Court awaits witchdoctor’s findings to rule on divorce case

ZAMBIA - THE LUSAKA Boma Local Court is waiting...