Standard Bank economists predict stable 2012

economy at regional and global levels, to nearly 200 economic agents gathered in the “Economic Briefing” promoted annually by such financial services provider.

During the press conference the economists said that “considering a scenario of reasonable exchange rate stability and a lower risk of rising oil prices in the international market, an inflation in the order of five percent below the 7.2 percent projections made by the Government is expected in Mozambique in the current year”.

Regarding the exchange rate, Fausio Mussa, senior economist from Standard Bank Mozambique, assured that 2012 could be a year of rather stability, compared to the previous year: “The supply of foreign currency is expected to improve substantially in the second quarter of the year, supported by continued foreign investment and disbursement of foreign aid funds and export earnings”.

In this scenario – according to Fausio Mussa - the metical will very likely sustain the stability achieved in the second semester of 2011, with a potential for slight depreciation, to a level of trading around the 28.05 Meticais per U.S. dollar”.

In another development, he stated that “the Standard Bank Group is optimistic about a positive trend in oil prices in the international market, which will start to reflect some stability, with a tendency to decline driven primarily by a new slower growth of the world economy”.

Rajat Kohli, also one of the main speakers of the “Economic Briefing”, an expert in mining and metals, indicated that it is “expected that the coal sector will increase substantially its contribution to the GDP-Gross Domestic Product from 2015, as the infrastructure, production and marketing reach levels projected to support an annual production of

20 million metric tons, which is expected to triple to 60 million in 2018, with the resources available to allow it to reach 100 million tons per year”.

Simon Ashby-Rudd, specialized on the oil and gas industry, believes that “the discoveries of natural gas in the Rovuma basin, announced by Anadarko, with total resources currently estimated at over 70 trillion cubic feet, will potentially mobilize investments of over 30 billion dollars between 2013 and 2018, export of natural gas, which can change significantly the value of the GDP and economic structure of the country”.

Yvette Babb, economist focused on the global economy, supported that the African continent will show positive economic growth this year, with the support from China, Brazil, Russia and India.

economy at regional and global levels, to nearly 200 economic agents gathered in the “Economic Briefing” promoted annually by such financial services provider.

During the press conference the economists said that “considering a scenario of reasonable exchange rate stability and a lower risk of rising oil prices in the international market, an inflation in the order of five percent below the 7.2 percent projections made by the Government is expected in Mozambique in the current year”.

Regarding the exchange rate, Fausio Mussa, senior economist from Standard Bank Mozambique, assured that 2012 could be a year of rather stability, compared to the previous year: “The supply of foreign currency is expected to improve substantially in the second quarter of the year, supported by continued foreign investment and disbursement of foreign aid funds and export earnings”.

In this scenario – according to Fausio Mussa - the metical will very likely sustain the stability achieved in the second semester of 2011, with a potential for slight depreciation, to a level of trading around the 28.05 Meticais per U.S. dollar”.

In another development, he stated that “the Standard Bank Group is optimistic about a positive trend in oil prices in the international market, which will start to reflect some stability, with a tendency to decline driven primarily by a new slower growth of the world economy”.

Rajat Kohli, also one of the main speakers of the “Economic Briefing”, an expert in mining and metals, indicated that it is “expected that the coal sector will increase substantially its contribution to the GDP-Gross Domestic Product from 2015, as the infrastructure, production and marketing reach levels projected to support an annual production of

20 million metric tons, which is expected to triple to 60 million in 2018, with the resources available to allow it to reach 100 million tons per year”.

Simon Ashby-Rudd, specialized on the oil and gas industry, believes that “the discoveries of natural gas in the Rovuma basin, announced by Anadarko, with total resources currently estimated at over 70 trillion cubic feet, will potentially mobilize investments of over 30 billion dollars between 2013 and 2018, export of natural gas, which can change significantly the value of the GDP and economic structure of the country”.

Yvette Babb, economist focused on the global economy, supported that the African continent will show positive economic growth this year, with the support from China, Brazil, Russia and India.