Angola Economic Outlook
July 17, 2018A strong economic recovery has yet to materialize this year, as the economic climate indicator remained firmly entrenched in negative territory in Q1. On a more positive note, President João Lourenço’s government has pursued its Macroeconomic Stabilization Program focused on improving the country’s economic prospects through fiscal deficit reduction and public debt consolidation, as well as the transition to a more flexible exchange rate regime. The private sector is likely to benefit significantly from the structural reforms amid government’s focus on increasing competition in domestic markets. The program has been positively received by the IMF, which commended economic policies and anti-corruption efforts pursued by the government during its first eight months in power.
Angola Economic GrowthThe economy is forecast to emerge from recession in 2018, on the back of higher global oil prices, which bode well for Sub-Saharan Africa’s second-largest oil exporter. Meanwhile, fiscal consolidation measures, moderating public debt and the transition away from a pegged exchange rate should further buttress economic activity in the medium to long-term. The diversification of exports and imports substitution should also boost growth. FocusEconomics panelists see GDP expanding 1.9% in 2018, which is unchanged from month’s forecast, and 2.3% in 2019.
Angola Economy Data
5 years of Angola economic forecasts for more than 30 economic indicators.
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|Exchange Rate||269.2||0.0 %||Aug 15|
|Stock Market||0.1||0.0 %||Aug 15|
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Angola Economic News
July 17, 2018
The Monetary Policy Committee (MPC) of the National Bank of Angola (Banco Nacional de Angola, BNA) slashed the key policy rate by 150 basis points from 18.0% to 16.5% at its meeting that concluded on 17 July.
July 13, 2018
Consumer prices in the province of Luanda rose 1.16% in June month-on-month, unchanged from May’s increase.
June 14, 2018
Consumer prices in the province of Luanda rose 1.20% in May in monthly terms, ticking up marginally from the previous month’s 1.16% month-on-month increase.
June 14, 2018
The economic climate indicator (ICE, Indicador de Clima Económico) published by the Statistical Institute rose from minus 15 points in the previous quarter to minus 14 points in the first quarter of this year.
May 24, 2018
At its monetary policy meeting held on 24 May, the National Bank of Angola (Banco Nacional de Angola, BNA) left the main interest rate unchanged at 18.00%.