Mozambique Set for 4.4% GDP Drop in 2020 and “Modest” Recovery Next Year – EIU - Plataforma Media

Mozambique Set for 4.4% GDP Drop in 2020 and “Modest” Recovery Next Year – EIU

The impact of the Covid-19 pandemic will “weigh heavily” on Mozambique´s economy, with real GDP contracting by 4.4% in 2020, before recovering slowly to a growth of 1% in 2021, according to the Economist Intelligence Unit (EIU).

On August 5th, Mozambican president, Filipe Nyusi, declared a new state of emergency for a period of 30 days, running from August 8th to September 6th, in order to contain the spread of the Covid-19 pandemic, with a further easing of restrictions, in three phases.

In phase one, beginning on August 18th, higher education institutions and religious gatherings with a maximum of 50 people will be reopened, followed in phase two (September), by cinemas, casinos and gyms and in phase three, (October 30th), by Grade 12 school classes.

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