Angola Economic Outlook
September 21, 2021
Economic conditions likely remained challenging in the second quarter. On one hand, oil prices soared as softer lockdown measures abroad boosted demand for the black gold. However, oil output tumbled in June, reaching a near 17-year low, owing to prior OPEC+ production curbs. Meanwhile, spiraling inflation and lingering restrictions will have constrained household spending in Q2. Turning to Q3, similar dynamics have been at play in the oil sector: Oil prices averaged higher in July–August than in Q2, but output eased on average. More positively, on 1 September the government lifted the Luanda-province lockdown for the first time since March 2020, which should boost economic activity at the tail of the quarter and into Q4. Furthermore, authorities recently expressed their intention to continue with the IPO of 30% of the state oil company, which could net them EUR 5–7 billion in proceeds.Angola Economic Growth
Economic growth is forecast to return this year, ending a multi-year recession, before accelerating next year. The rollback of domestic and foreign lockdown measures will see demand dynamics firm, while the new oil sector bill should boost investment growth. However, social unrest, high inflation and a sizable public debt burden cloud the outlook. FocusEconomics panelists see GDP expanding 0.8% in 2021. In 2022, the economy is seen growing 2.9%, which is unchanged from last month’s forecast.Angola Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Angola Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 479.0 | 0.0 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Angola Economic News
-
Angola: Cabinda prices rise in September
October 13, 2021
Cabinda oil prices came in at USD 74.5 per barrel (pb) on average in September, up from USD 70.9 pb in August.
-
Angola: Inflation comes in at highest level since June 2017 in September
October 12, 2021
Luanda-province consumer prices rose 2.34% in September over the previous month, largely in line with the 2.30% rise logged in August.
-
Angola: Economy rebounds in Q2 on firming non-oil activity
October 11, 2021
The economy returned to growth in the second quarter for the first time since Q2 2019, with GDP expanding 1.2% year-on-year and swinging from the first quarter’s 3.4% contraction.
-
Angola: Economic sentiment rises but remains in pessimistic territory in Q2
October 11, 2021
Economic sentiment continued its upward trend in the second quarter; however, confidence remained encapsulated by pessimism as the sentiment index rose to minus 6 from minus 9 in the first quarter.
-
Angola: Central Bank stands pat in September
September 30, 2021
At its 30 September meeting, the Monetary Policy Committee of the National Bank of Angola decided to leave all its monetary policy instruments untouched.
© Copyright: 2021. | Angola Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
