The Business Robustness Index created by the Confederation of Economic Associations (CTA) of Mozambique rose from 27 percent to 28 percent in the second quarter of 2022, “below expected,” the business association announced today.
“The assessment of the national Business Robustness Index (IRE) suggests that in the second quarter the business sector maintained the pace” of the previous quarter, “and this indicator showed a trend of recovery, rising from 27% to 28%, although below expectations,” reads the CTA analysis consulted today by Lusa.
“The slight widening of business robustness at the national level was supported by the start of the agricultural marketing season, as well as the boost in port and logistics activities, in a scenario without economic restrictions associated with the covid-19 fight,” it added.
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At the level of the index’s components, the employment indicator showed a slight improvement, from 115 to 116.56 points, between the first and second quarter, supported “by seasonal jobs,” linked to agriculture.
The CTA estimates that the current quarter (ending in September) will underline an “improving trend” as covid-19 is left behind and thanks to the peak of the agricultural marketing season as well as a pickup in entertainment and tourism activities.
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The start of liquefied gas exports from the Rovuma basin and the resumption of external support following the May agreement between the Mozambican government and the International Monetary Fund (IMF) also underpin the forecast.
