Table 1. Mozambique: Selected Economic and
Financial Indicators, 1994-20001
|
| |
1994 |
1995 |
1996 |
1997 |
1998
Prog. |
1999
Proj. |
2000
Proj. |
|
| |
(Annual percentage change,
unless
otherwise specified) |
| National income and prices |
| Real GDP |
7.5 |
4.3 |
7.1 |
12.4 |
9.1 |
9.6 |
6.9 |
| Real GDP (excluding large
projects) |
7.5 |
4.3 |
7.1 |
12.4 |
7.2 |
7.3 |
7.0 |
| Real GDP per
capita |
0.9 |
-0.5 |
3.5 |
9.4 |
6.2 |
6.8 |
4.1 |
| GDP deflator |
59.4 |
52.0 |
40.9 |
8.8 |
7.0 |
5.8 |
7.7 |
| Consumer price index (annual
average) |
63.1 |
54.4 |
44.6 |
6.4 |
3.3 |
7.7 |
6.0 |
| Consumer price index (end of
period) |
70.2 |
54.1 |
16.6 |
5.8 |
6.5 |
6.0 |
6.0 |
| |
| External sector |
| Merchandise exports
(total) |
24.4 |
6.3 |
29.8 |
-2.3 |
32.0 |
17.7 |
8.0 |
| Merchandise exports
(excluding large projects) |
24.4 |
6.3 |
29.8 |
-2.3 |
8.2 |
9.2 |
8.7 |
| Merchandise imports
(excluding large projects) |
6.2 |
-22.1 |
6.4 |
-1.7 |
16.1 |
7.5 |
6.7 |
| Merchandise export
volume (excluding large projects) |
23.8 |
-2.9 |
31.0 |
-1.8 |
5.9 |
5.3 |
6.9 |
| Merchandise import volume
(excluding large projects) |
2.8 |
-29.5 |
6.9 |
8.4 |
21.1 |
6.0 |
5.4 |
| Terms of trade (excluding large
projects) |
-2.7 |
-1.0 |
-0.4 |
9.8 |
6.6 |
2.2 |
0.3 |
| Nominal exchange rate (average,
US$/Mt) |
-37.1 |
-33.1 |
-20.1 |
-2.2 |
... |
... |
... |
| Real effective exchange rate (dep. =
-) |
28.3 |
-4.4 |
14.9 |
14.7 |
... |
... |
... |
| |
| Government budget |
| Total revenue |
39.6 |
58.1 |
44.2 |
31.8 |
18.5 |
12.4 |
21.7 |
| Total expenditure and net
lending |
77.7 |
25.9 |
31.3 |
34.7 |
14.7 |
17.5 |
13.5 |
| Current
expenditure |
69.4 |
10.6 |
40.6 |
38.8 |
20.5 |
22.1 |
13.0 |
| Capital
expenditure and net lending |
93.1 |
40.1 |
24.5 |
31.3 |
9.5 |
13.0 |
14.0 |
| |
| Money and credit (in percent of opening
M2) |
| Net domestic assets, of
which: |
33.8 |
15.2 |
-27.2 |
2.3 |
9.7 |
9.8 |
... |
| Net credit to
the government |
-3.7 |
-4.3 |
-8.8 |
-10.8 |
0.5 |
0.0 |
... |
| Credit to the
rest of the economy |
30.5 |
25.9 |
22.4 |
31.8 |
17.9 |
17.5 |
... |
| Broad money
(M2)2 |
57.6 |
54.7 |
21.1 |
24.4 |
17.0 |
16.0 |
... |
| Velocity
(GDP/M2) |
3.4 |
3.5 |
4.4 |
4.3 |
4.3 |
4.3 |
... |
| Rediscount rate (end of period, in
percent) |
69.7 |
57.8 |
32.0 |
13.0 |
... |
... |
... |
| |
| |
(In percent of GDP) |
| Saving-investment balance |
| Gross domestic
investment |
31.3 |
36.1 |
30.1 |
29.5 |
35.2 |
41.0 |
40.6 |
| Public |
12.9 |
11.0 |
9.3 |
10.0 |
9.1 |
9.2 |
9.1 |
| Private |
18.4 |
25.1 |
20.8 |
19.5 |
26.0 |
31.8 |
31.5 |
| Gross national
savings |
15.0 |
18.6 |
14.5 |
20.0 |
20.2 |
19.7 |
21.2 |
| Public |
12.1 |
13.2 |
8.7 |
11.1 |
9.5 |
7.6 |
8.0 |
| Private |
2.9 |
5.4 |
5.8 |
8.9 |
10.7 |
12.1 |
13.2 |
| External current account (after
grants) |
-16.3 |
-17.4 |
-15.6 |
-9.6 |
-15.0 |
-21.3 |
-19.4 |
| |
| Government budget3 |
| Total revenue |
14.0 |
14.0 |
13.4 |
14.4 |
14.9 |
14.5 |
15.3 |
| Total expenditure and net
lending |
37.7 |
29.9 |
26.1 |
28.7 |
28.7 |
29.2 |
28.7 |
| Overall balance before
grants |
-23.7 |
-15.9 |
-12.7 |
-14.3 |
-13.8 |
-14.7 |
-13.4 |
| Total grants |
17.1 |
12.1 |
8.8 |
10.1 |
9.1 |
9.1 |
8.4 |
| Overall balance after
grants |
-6.6 |
-3.8 |
-3.9 |
-4.2 |
-4.7 |
-5.5 |
-5.0 |
| Domestic primary
balance |
-22.3 |
-13.3 |
-10.8 |
-12.5 |
-11.7 |
-13.3 |
-12.0 |
| Domestic bank
financing |
-0.2 |
-0.8 |
-1.7 |
-1.9 |
0.0 |
0.0 |
0.0 |
| |
| |
(In percent of exports of goods and
nonfactor services) |
| Net present value of total external debt
outstanding4 |
... |
4,308.3 |
1,887.3 |
691.4 |
644.3 |
443.2 |
402.3 |
| Total external debt service5 |
| Scheduled, including IMF
debt6 |
131.7 |
103.7 |
74.4 |
71.6 |
80.0 |
74.5 |
86.5 |
| Actual, including IMF
debt |
33.0 |
27.5 |
28.1 |
24.9 |
33.5 |
36.9 |
39.9 |
| Actual, excluding IMF
debt |
29.9 |
23.7 |
21.3 |
22.5 |
29.0 |
32.2 |
35.6 |
| |
| |
(In percent of government
revenue) |
| External nonfinancial public debt service7
|
| Scheduled6 |
176.7 |
132.9 |
91.9 |
72.6 |
74.0 |
66.6 |
77.1 |
| Actual |
19.1 |
25.8 |
31.4 |
21.0 |
22.9 |
24.6 |
24.6 |
| |
| |
(In months of imports of goods
and
nonfactor services) |
| Gross international reserves (end of
period) |
2.2 |
2.7 |
4.4 |
6.2 |
5.3 |
4.4 |
4.0 |
| |
|
(In millions of U.S.
dollars) |
| External current account (after grants) |
-300 |
-338 |
-337 |
-263 |
-464 |
-727 |
-706 |
| Overall balance of payments |
-377 |
-280 |
-49 |
-67 |
-256 |
-270 |
-430 |
| Total external debt (end of period) |
8,671 |
8,911 |
9,279 |
7,432 |
7,150 |
7051 |
7,297 |
| External arrears (public sector, end of
period)8 |
2,508 |
2,895 |
2,830 |
619 |
0 |
0 |
0 |
| Gross international reserves (end of period)
|
209 |
225 |
383 |
532 |
571 |
590 |
534 |
| |
| |
(In millions of SDRs) |
| Use of Fund resources |
| Enhanced Structural Adjustment
Facility disbursments |
14.7 |
0.0 |
12.6 |
25.2 |
25.2 |
12.6 |
... |
| Enhanced Structural Adjustment
Facility repayments |
7.3 |
9.5 |
22.3 |
11.0 |
18.1 |
22.8 |
22.2 |
| Outstanding
amount |
145.2 |
135.8 |
126.1 |
140.1 |
147.2 |
137.0 |
114.9 |
| Quota |
84.0 |
84.0 |
84.0 |
84.0 |
84.0 |
84.0 |
84.0 |
| |
| |
(In units specified) |
| Nominal GDP (Mt billions) |
10,860 |
17,220 |
25,982 |
31,780 |
37,095 |
43,027 |
49,521 |
| Market exchange rate (12-month average,
Mt/US$) |
5,918 |
8,890 |
11,294 |
11,546 |
... |
... |
... |
Sources: Mozambican authorities, and
Fund staff estimates and projections.
1For price, exchange rate, and trade data, percentage changes are over the preceding
12 months; for fiscal data, they are over the same period a year earlier. Fiscal and monetary data
are cumulative for the year.
2Includes foreign currency deposits.
3In percent of nonenergy GDP.
4Refers to public and publicly guaranteed debt after rescheduling, in percent of
three-year export average.
5Including nonguaranteed private sector debt.
6Before debt relief.
7Excludes IMF debt.
8In view of the best efforts being undertaken by Mozambique to conclude
debt-rescheduling agreements, the country is deemed to have no arrears outstanding for
programming purposes. |
