
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 cuts rates in January
January 20, 2023
The Monetary Policy Committee of the National Bank of Angola (BNA) delivered a 150 basis point cut at its 20 January meeting, bringing the basic interest rate down to 18.00% from 19.50%.
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Angola: Cabinda prices sink in December
January 17, 2023
The average price for Cabinda oil fell to USD 80.0 per barrel (pb) in December, down from November’s USD 92.6 pb.
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Angola: Inflation declines to lowest level since December 2015 in December
January 12, 2023
Inflation came in at 13.9% in December, which was down from November’s 15.2%.
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Angola: Economy records quickest upturn since Q1 2015 in Q3
January 2, 2023
GDP growth accelerated to 3.9% year on year in the third quarter from 3.6% in the second quarter.
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Angola: Cabinda prices decrease in November
December 13, 2022
The average price for Cabinda oil fell to USD 92.6 per barrel (pb) in November, down from October’s USD 95.0 pb.