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: Inflation falls to 28-month low in August
September 12, 2022
Inflation came in at 19.8% in August, which was down from July’s 21.4%.
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Angola: Cabinda prices moderate further in August
September 11, 2022
The average price for Cabinda oil fell to USD 106.6 per barrel (pb) in August, down from July’s USD 119.4 pb.
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Angola: Inflation eases further in July
August 12, 2022
Consumer prices increased 0.81% in July over the previous month, ticking down from the 0.84% rise logged in June.
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Angola: Cabinda prices moderate in July as recession fears increase
August 11, 2022
The average price for Cabinda oil eased to USD 119.4 per barrel (pb) in July, down from June’s USD 126.8 pb.
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Angola: Central Bank stands pat in July
July 29, 2022
The National Bank of Angola’s Monetary Policy Committee stood pat at its 29 July meeting, leaving the basic interest rate at 20.00%.
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