The economy of Mozambique is expected to grow by 5.5 percent this year with an inflation rate kept at 14 percent, reports the Chinese government-run news agency Xinhua.

The report cited central bank governor Rogério Zandamela, who says the government will act to guarantee macroeconomic stability.

“The market has reacted to the measures that we have taken: the exchange rate inverted the cycle of depreciation… and consequently the annual inflation rate rolled back in December after the peak of nearly 27 percent registered in November,” he reportedly told Xinhua.

The International Monetary Fund said Mozambique grew by 3.4 percent last year and 6.6 percent in 2015.