Angola Economic Outlook
April 24, 2018The most recent data confirms that economic conditions remain challenging, despite a rebound in GDP growth last year and ongoing reform efforts to increase competitiveness. Industrial production in 2017 contracted, and economic sentiment in the fourth quarter of 2017 remained deeply entrenched in negative territory, although it ticked up slightly. Public spending is expected to be cut significantly this year as the government attempts to put the fiscal account on a more sustainable footing to lower the elevated public debt. On 17 April, authorities officially requested non-financial assistance from the IMF. They hope that the Fund will help Angola decrease its overreliance on the oil industry by supporting growth in the non-oil sector.
Angola Economic GrowthGDP growth is expected to accelerate from 2017’s soft print this year on the back of higher oil prices and invigorated economic activity in the non-oil sector, partly due to improved liquidity of foreign currency. Met the why particular panelists expect GDP to expand 1.8% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, growth is expected to reach 2.2%.
Angola Economy Data
5 years of Angola economic forecasts for more than 30 economic indicators.
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|Exchange Rate||232.6||0.0 %||May 16|
|Stock Market||0.1||0.0 %||May 16|
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Angola Economic News
May 16, 2018
Consumer prices in the province of Luanda rose 1.16% in April in monthly terms, decelerating slightly from the previous month’s 1.38% month-on-month increase.
Angola: Revised GDP data shows contractions in 2016 and 2017, pointing to more challenging conditions than previously thought
May 14, 2018
According to preliminary data released by the National Statistics Institute (INE), GDP contracted notably last year.
April 18, 2018
The average price of Angola’s Cabinda crude oil rose from USD 66.4 per barrel (pb) in February to USD 69.5 pb in March.
April 3, 2018
At its monthly meeting held on 30 March, the National Bank of Angola (Banco Nacional de Angola, BNA) left the main interest rate unchanged at 18.00%.
March 15, 2018
The average price of Angola’s Cabinda crude oil dropped from USD 69.2 per barrel in January to USD 65.5 per barrel in February.