Mozambique works to diversify economy in 2019

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Ghana economy

Mozambican Prime Minister Carlos Agostinho do Rosario said on Wednesday in Maputo that the government will diversify the economy by allocating two thirds of the state budget to build an inclusive economy so that the expected 4.7-percent growth in 2019 would be achieved.

The government’s proposal is that the state budget allocates 66.6 percent of resources to the economic and social sectors including education, health, infrastructures, agriculture, water supply and social protection, said the prime minister.

Rosario added the government will be devoted to diversifying the economy, improving business environment and implementing combined measures of fiscal power and monetary policies to invigorate the economy and keep the inflation stable.

He mentioned the agriculture sector in particular, saying 11 percent of the public expenditure will be earmarked for it, as a measure to increase production and productivity, thus stabilizing prices of basic products and reducing living costs.

The government looks forward to more investment in agricultural area, in the hope of promoting exports, replacing imports and ensuring food security and nutrition in the country, which will consequently reduce chronic malnutrition in children under the age of five, he said.

In 2019, more than 354,000 new jobs are expected to be created in the southeastern African country, as a result of new projects in private and public sectors, including education, health, agriculture and infrastructure, according to the prime minister. Enditem

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