Mozambique expected to grow by 7 percent

Mozambique’s economy was likely to grow by 7.5 percent in 2012 from an estimated 7.2 percent growth in 2011 but core inflation, although the Consumer Price Index (CPI) had eased, was still too high, the International Monetary Fund (IMF) said on Friday.

“The strengthening of the Metical (Mozambican currency) and the prudent policies adopted by the government fostered the fall in inflation compared to last year, however, the core inflation remains high and needs to be reduced,” said the IMF country representative Victor Lledó.