Angola Economic Outlook
February 20, 2018The economy remains fragile despite recovering oil prices, which reached an over-three year high in January. Industrial production in the third quarter of 2017 contracted 2.3% in year-on-year terms, and exports of goods and services also dropped compared to the previous year, indicating depressed oil earnings in the period when the current upswing in global oil prices started. Furthermore, the devaluation of the kwanza on 9 January is putting severe pressure on the government’s public accounts. Moody’s placed Angola’s B2 credit rating under review on 9 February due to growing concerns over the country’s mounting debt level. Public debt is expected to have increased, along with borrowing requirements to meet the government’s high debt obligations. A rating decision by Moody’s will largely depend on the government’s ability to successfully restructure part of its debt with international partners to put it on a more sustainable footing.
Angola Economic GrowthFiscal austerity measures and structural imbalances in the economy will keep growth constrained this year. Met the why particular panelists expect GDP to expand 1.6% in 2018, which is down 0.5 percentage points from last month’s forecast. For 2019, growth is expected to reach 2.7%.
Angola Economy Data
5 years of Angola economic forecasts for more than 30 economic indicators.
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Angola Economic News
February 14, 2018
Consumer prices in the province of Luanda rose 1.39% in January from the previous month, coming in above December’s 1.13% month-on-month increase.
February 13, 2018
The average price of Angola’s Cabinda crude oil rose from USD 64.8 per barrel in December to USD 69.2 per barrel in January.
January 31, 2018
At its 31 January monetary policy meeting, the National Bank of Angola (Banco Nacional de Angola, BNA) left the main interest rate unchanged at 18.00%. The Bank’s decision to stay put came against a backdrop of high inflation and a currency devaluation on 9 January that will stoke price pressures in upcoming months.
January 17, 2018
The average price of Angola’s Cabinda crude oil rose from USD 63.2 per barrel in November to USD 64.8 per barrel in December.
January 15, 2018
Consumer prices in the province of Luanda rose 1.13% in December from the previous month, coming in slightly above November’s 1.02% month-on-month increase.