Oxford Economics forecasts that Mozambique’s economic growth will slow to 4.5% this year, after having grown by 5% in 2023. This slowdown is attributed to the forecast of slower natural gas production, with an estimated increase of 2.5%.
According to Oxford Economics analysts, despite the challenges faced by the country, such as Cyclone Fredy and the violence in Cabo Delgado, the economy managed to advance in 2023 due to the increase in offshore production of liquefied natural gas.
The British consultancy believes that oil company TotalEnergies will return to Cabo Delgado later this semester, but warns that the proximity of the elections could increase attacks and cast a cloud over the electoral process scheduled for the end of the year.
Mozambican President Filipe Nyusi said that TotalEnergies should have resumed operations in Cabo Delgado by now, considering France’s decision to warn citizens not to travel to certain areas of the province as a “diplomatic decision”.
The French Embassy in Mozambique has issued an appeal to French citizens to avoid traveling to the towns of Mocímboa da Praia, Pemba and Palma, in Cabo Delgado, due to the threat of terrorism and kidnapping there.
The security situation in Cabo Delgado remains a concern, especially with the recent rebel incursions, which poses challenges for the resumption of the TotalEnergies project and for the electoral environment at the end of the year.
