Mozambique is to post the fastest growth rate this year among Portuguese-speaking Countries in Africa, according to a new report jointly published by the Organisation for Economic Cooperation and Development (OECD), the African Development Bank and the United Nations Development Programme.
According to the ‘African Economic Outlook 2015’, published on Monday, Mozambique’s gross domestic product (GDP) is forecast to grow 7.5 percent this year and 8.1 percent in 2016, after expanding by 7.6 percent last year.
Angola’s GDP is estimated to grow 3.8 percent this year, due to falling oil prices and a prolonged drought reducing agricultural production, the report said. But the country’s economic momentum is expected to pick up next year with a growth of 4.2 percent.
Regarding other Portuguese-speaking economies in Africa, Guinea Bissau is expected to post 3.9 percent growth this year, before slowing to 3.7 percent in 2016. The growth forecasts for Cape Verde are 3.1 percent in 2015 and 3.6 percent in 2016.
