Angola Economic Outlook
December 13, 2019
The economy appears to have shrunk again in the third quarter. Oil production continued plummeting in Q3, which, coupled with falling average crude oil prices, boded ill for the country’s external sector. Meanwhile, available data leaves little room for optimism in Q4: Crude prices inched down in October–November compared to Q3, while domestic production remained depressed in the same period. That said, the authorities continue to show commitment to structural economic reforms. After floating the kwanza in October, the Central Bank relaxed restrictions on foreign exchange trading for companies and commercial banks. Consequently, on 6 December, the IMF approved a second tranche of the USD 247 million loan, praising efforts to diversify the economy and improve public finances. In other news, Parliament approved the state budget for 2020, which projects a 1.2% fiscal surplus.Angola Economic Growth
The growth outlook for next year was chopped again this month, as the all-important oil sector remains in the doldrums with little hope of a rebound. That said, economic activity should recover in 2020 as ongoing economic reforms, sustained political stability and continued IMF assistance are set to support consumer demand and investment activity. FocusEconomics panelists see GDP growing 0.7% next year, which is down 0.3 percentage points from last month’s forecast. In 2021, growth is seen accelerating to 1.9%.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: Inflation jumps in December amid currency pressures
January 17, 2020
Consumer prices in the province of Luanda rose 1.9% from the previous month in December, accelerating from November’s 1.5% result, and marking the strongest increase since September 2018. Meanwhile, inflation in the province of Luanda jumped to a four-month high of 17.1% in December, from 16.6% in November.
Angola: Both Cabinda crude oil prices and Angolan oil production jump to seven-month highs in December
January 17, 2020
The average price of Angola’s Cabinda crude rose to USD 69.4 per barrel (pb) in December, from USD 64.7 pb in November.
Angola: Inflation ticks up in November
December 13, 2019
Consumer prices in the province of Luanda rose 1.5% from the previous month in November, edging up from October’s 1.4% increase.
Angola: Economic sentiment slips in Q3
December 13, 2019
The economic climate indicator (ICE, Indicador de Clima Económico) published by the Statistical Institute weakened to minus 7 points in the third quarter from minus 5 points in the second quarter, which had marked the best reading in four years.
Angola: Cabinda crude oil prices rise in November; Angolan production dives to over 13-year low in the same month
December 11, 2019
The average price of Angola’s Cabinda crude rose to USD 64.7 per barrel (pb) in November, from USD 60.7 pb in October, marking the second highest price since July.
© Copyright: 2020 | Angola Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
