---- ----e ----f ----f ----f ----f ----f ----f ----f ----f ----f ----f Government final consumption, MZNbn ---.- ---.- ---.- ---.- ---.- ---.- ---.- ---.- ---.- ---.- ---.- ---.- Government final consumption, of GDP --.- --.- --.- --.- --.- --.- --.- --.- --.- --.- --.- --.- Government final consumption, real growth y-o-y --.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- e/f=BMI estimate/forecast. Source: National Sources/BMI will keep consumer imports and borrowing costs high in ----. ...Gross Fixed Capital Formation: Investment is set to be a key driver of growth over the coming five years; we anticipate it will soar in ---- and ---- before settling to an annual average of -.- until the end of the forecast period. We are currently fore- casting a final investment decision (FID)�the approval necessary to release funds for project execution�will be made on ENI s coral floating LNG platform and Anadarko s onshore facility at Afungi in H---, marking the first formal commitment to LNG development after years of exploratory activity. Following these landmark decisions, real investment growth will reach -- . ...Export growth will jump from ---- as first natural gas production comes online. This will put net exports into a positive position for the first time since ----.
...Delayed investment into Mozambique s fledgling LNG sector and ris- ing inflation will weigh on real GDP growth in ----. The economy will see some recovery in ---- as investment resumes following the likely signing of two important Final Investment Decisions in the latter stages of ----, but the associated increase in imports that will accompany this investment will moderate any jump in headline growth. ...Delayed investment into Mozambique s fledgling LNG sector and ris- ing inflation will weigh on real GDP growth in ----. The economy will see some recovery in ---- as investment resumes following the likely signing of two important Final Investment Decisions in the latter stages of ----, but the associated increase in imports that will accompany this investment will moderate any jump in headline growth. Real GDP growth will see another stunted year in ----, as inward investment into the country s various LNG projects falls short of what was expected when the projects were first envisaged. ...While this would mark an important step in developing the country s valuable gas reserves, we do not believe that headline growth figures would feel any significant benefit until ----. Furthermore, while progress in Eni s coral floating LNG platform looks more certain, initial construction is set to take place abroad, most likely in South Korea, meaning that Mozambique will only really benefit from the project once it begins actual LNG production, estimated for ----.
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