Fiscal Balance in Angola
Angola - Fiscal BalanceThe economy remained trapped in recession in the third quarter, with GDP contracting at the sharpest pace in a year. The all-important oil sector led the downturn amid slumping domestic oil production and subdued global crude prices; in the third quarter, oil sector activity contracted at the sharpest rate since Q4 2018. Further weighing on the third-quarter outturn, manufacturing output dipped and activity in the construction sector softened amid deteriorating sentiment. Turning to the fourth quarter, the picture remains gloomy. Although global oil prices rose in Q4 compared to Q3, Angolan oil production fell again in the same period, depressing overall economic activity. Furthermore, the kwanza markedly depreciated and inflation ticked upwards at the end of the year, likely weighing on consumer spending in Q4.
Angola - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-5.7||-2.9||-4.5||-6.3||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Angola Fiscal Balance Chart
Source: Finance Ministry of Angola
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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February 17, 2020
The average price of Angola’s Cabinda crude fell to USD 65.8 per barrel (pb) in January, from USD 69.4 pb in December, after two consecutive months of rising prices.
January 27, 2020
At its 27 January meeting, the Monetary Policy Committee (MPC) of the National Bank of Angola (BNA) kept the key policy rate unchanged at 15.50%.
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.
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.