The World Bank forecasts that the Mozambican economy will grow by 3.1 percent this year, boosted by exports of coal and aluminium.
The World Bank says in its latest report on Mozambique that small and medium enterprises there are lagging behind the rest of the economy, and that manufacturing will contract this year for the first time since 1994.
“Trends observed in 2017 make it clear that Mozambique needs to double its efforts to support small and medium enterprises and look beyond the extractive sector for more balanced growth,” the report says.
Decisive monetary policy measures and strong exports of commodities have helped stabilise the Mozambican currency and curb inflation this year, the World Bank says.
