Economy of Mozambique the second international fibre (EASSy) in 2010. The lower cost of bandwidth has already started to trickle down to lower consumer prices in some service segments, while others have remained unchanged. The banking system collapsed after independence from Portugal in 1975. From an earlier position (in the 1980s) of central government control of the economy, Mozambique has initiated rapid reforms in recent years, accelerating the implementation of market-based economic policies, and committing to a policy of fiscal and monetary discipline. In 1995 the government introduced its medium-term economic growth, strategy which it continues to pursue. Since the late 1990s, both
Agriculture in Mozambique 120,000 tons. The potential catch is estimated at 500,000 tons of fish. South African trawlers are allowed to fish in Mozambican waters in return for providing a portion of their catch to Mozambique. The European Community, Italy, and Japan have each entered into agreements designed to help develop the fishing industry. Thick forest covers the wet regions, where there are fertile soils, but the drier interior, which has sandy or rocky soils, supports only a thin savannah vegetation. Extensive stands of hardwood, such as ebony, flourish throughout the country. Wood production is from natural forests and is almost entirely consumed