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PM says Mozambican economy grows by 7.2% this year


13:44, November 17, 2011

MAPUTO, Nov. 16 (Xinhua) -- Mozambican Prime Minister Aires Ali told the parliament on Wednesday in Maputo that the country's economy is expected to meet the targets set for this year estimated at 7.2 percent according to the Social Strategic Plan .

The prime minister was speaking during the question and answer session of the government which kicked off on Wednesday and ends on Thursday. He added that this will be possible because in the first semester alone the Gross Domestic Product growth was at 7.1 percent, the Mozambique News Agency reports on Wednesday.

During the first semester Mozambique exported goods estimated 1, 299 million U.S. dollars which is equivalent to a performance of 51.2 percent. The international net reserves were also high reaching 2,095 million U.S. dollars by June this year, the equivalent to five months of imports of goods and services, when the government prediction for international net reserves was to reach 1,895 million U.S. dollars.

Also during the first semester the government approved about 113 new projects with an proposed amount at 12 million U.S. dollars that will potentially generate 19,000 new jobs, the prime minister said.

This performance is attributed in particular to the sectors of agriculture, industry, trade, transport and communications.

He highlighted the ongoing projects and those still to be implemented regardless of their geographical position and said that the projects must benefit all Mozambicans and contribute to social and economic growth.

The prime minister guaranteed that incomes generated through the exploration of the country's potential, the extractive industry and its processing, will be used to distribute fairly in the whole country for poverty reduction.

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