UNICEF Mozambique Results Summary 2023

In 2023, UNICEF Mozambique continued its efforts to advance a more integrated and multi-sectoral programme, while promoting greater decentralization and ownership of the country programme at provincial level.

UNICEF Mozambique Results Summary 2023
UNICEF Mozambique

Highlights

The pace of Mozambique’s economic recovery has continued to accelerate in 2023, with real GDP growth expected to have reached 5.3 per cent, following the weaker 2.4 per cent of 2021 and the more substantial 4.4 per cent of 2022. Growth forecasts from 2024  onwards suggest that Mozambique’s real GDP growth will average 5.3 per cent a year over the medium term. These positive trends are accompanied by a reduction in inflationary pressures, with headline inflation falling from 10.3 per cent in December 2022 to 5.7 per cent in July 2023.


It is projected to stabilize around 5.7 per cent by the end of 2026, in a context of tight monetary policy and increasing foreign exchange reserves. Despite these positive developments, Mozambique’s forecasted growth is still about 2 percentage points lower compared to levels recorded before the “hidden debt” scandal of 2015 and the series of shocks that hit the country between then and 2022. Food inflation has been steadily increasing, reaching an annualized 9.3 per cent in 2023, while global commodity prices have been on a downward trend since mid-2022, particularly liquified natural gas and aluminium, two key Mozambican exports. The recovery path therefore remains uncertain and fragile.


Against this mixed background, Mozambique has experienced an increase in poverty levels. According to the latest figures from the Family Budget Survey (IOF) conducted in 2019/2020 by the Government’s National Statistics Institute (INE), 62 per cent of the population is living in poverty (US $0.63/day or below), with this rate reaching 72 per cent in rural areas.

UNICEF Mozambique Results Summary 2023
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