Angola Economic Outlook
June 21, 2022
Economic conditions should have improved in Q1. Inflation eased amid a strengthening currency, which, coupled with the rollback of some Covid-19 restrictions, bodes well for household spending. Rising oil prices and production throughout Q1 likely supported government finances. A similar narrative is expected to be unfolding in Q2. Domestic and international anti-pandemic measures were further eased in early April. Additionally, price pressures continued to trend downwards through May, reaching an 18-month low in the month and supporting private consumption. Government finances are likely continuing to improve as well: The war in Ukraine has kept oil prices elevated through May, while production picked up pace. Meanwhile, the first-ever initial public offering occurred with the country’s largest private bank, which may encourage increased privatization.Angola Economic Growth
The economy is expected to gain momentum this year amid the rollback of Covid-19 restrictions, which should support domestic demand. Further, the oil sector should reap the benefits of high commodities prices and Western countries’ supply diversification away from Russia. However, uncertainty leading up to the August elections poses a downside risk. FocusEconomics panelists see GDP expanding 3.2% in 2022, which is unchanged from last month’s forecast. In 2023, the economy is seen growing 3.1%.Angola Economy Data
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Angola Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 479.0 | 0.0 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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Angola Economic News
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Angola: Central Bank stays put in November
November 25, 2022
On 25 November, the Monetary Policy Committee of the National Bank of Angola (BNA) kept the basic interest rate unchanged at 19.50%.
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Angola: Inflation falls for the ninth consecutive month in September
November 12, 2022
Inflation came in at 16.7%, which was down from September’s 18.2%.
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Angola: Cabinda prices increase slightly in October
November 11, 2022
Following three months of consecutive declines, the average price for Cabinda oil rose to USD 95.0 per barrel (pb) in October, up from September’s USD 92.5 pb.
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Angola: Cabinda prices decline in September
October 12, 2022
The average price for Cabinda oil fell to USD 92.5 per barrel (pb) in September, down from July’s USD 106.6 pb.
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Angola: Growth records the best result since Q1 2015 in Q2
September 30, 2022
GDP growth accelerated to 3.6% year on year in the second quarter, from 2.8% in the first and marked the fastest expansion since Q1 2015.
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