Angola Economic Outlook
September 19, 2017Incoming President João Lourenço, whose People’s Movement for the Liberation of Angola (MPLA) party secured a landslide victory in August’s elections, inherits an economy that still looks shaky. Recently released data shows that economic sentiment remained gloomy in Q2, with firms reporting financial difficulties and insufficient demand. On a more positive note, oil prices have picked up notably in recent weeks following news of a possible OPEC deal extension and a fall in oil output among OPEC producers in August. If momentum is maintained, it could help bolster the country’s weak fiscal position and help contain the sizeable budget deficit. The election of Lourenço is highly unlikely to substantially alter economic policy-making, as former president José Eduardo dos Santos will still wield influence as leader of the MPLA party. In addition, other members of the dos Santos family continue to occupy key posts: The ex-president’s daughter is head of state oil company Sonangol, while his son is in charge of the sovereign wealth fund.
Angola Economy Data
5 years of Angola economic forecasts for more than 30 economic indicators.
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|Exchange Rate||165.8||0.0 %||Oct 13|
|Stock Market||0.1||0.0 %||Oct 13|
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Angola Economic Growth
September 19, 2017Growth should speed up next year, due to greater oil production and higher oil prices. However, an uncertain business environment, sustained high inflation and foreign exchange restrictions are likely to limit the expansion. Analysts expect GDP to expand 1.4% in 2017 and 2.6% in 2018, up 0.1 percentage points from last month’s forecast.
Angola Economic News
October 13, 2017
The average price of Angola’s Cabinda crude oil increased from USD 52.1 in August to USD 56.8 in September.
October 13, 2017
Consumer prices in the province of Luanda rose 2.54% in September from the previous month, coming in above August’s 1.66% month-on-month increase.
September 18, 2017
The average price of Angola’s Cabinda oil increased from USD 48.6 in July to USD 52.1 in August.
September 12, 2017
Consumer prices in the province of Luanda rose 1.66% in August from the previous month, down from July’s 1.77%.
September 11, 2017
The economic climate indicator (ICE, Indicador de Clima Económico), published by the National Statistical Institute, rose from minus 24 points in Q1 to minus 21 in Q2.