Mozambique Lowers GDP Growth Forecast to 7.4% This Year

Mozambique has cut its 2013 growth forecast by a percentage point to 7.4 percent because of floods that damaged crops and reduced coal shipments, Finance Minister Manuel Chang said.

The floods killed over 100 people and hindered the transport of coal in the first quarter of this year.

“Our initial GDP growth forecast for 2013 was 8.4 percent but due to natural calamities that affected the country, we revised the forecast,” Chang told reporters in the capital, Maputo, today after a cabinet meeting.

To contact the reporter on this story: William Felimao in Maputo at wfelimao@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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