Mozambique economy to grow 5,5% in '09 - IMF

The International Monetary Fund (IMF) on Friday forecast Mozambique's economy to grow by 5,5 percent in 2009, lower than a government prediction of between 6,5 and 7 percent.

"We project a 5,5 percent real economic growth for this year and 5,4 percent in 2010. This is quite considerably above what you have in the rest of the world," IMF's Mozambique resident representative, Felix Fischer, told reporters.

Mozambique has enjoyed strong growth since emerging from a 17-year civil war but remains one of the world's poorest countries.

The government has predicted growth of around 6,5 percent for 2008.

Fischer said the IMF forecasts of slower growth for 2009 and 2010 were based on the country's vulnerability to the current global economic crisis through less exports and reduced capital inflows.

The fund also predicted inflation would slow to an average 5,1 percent this year, down from 10,3 percent in 2008, largely due to lower oil prices.

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