Fiscal Balance in Angola
Angola - Fiscal BalanceThe economy once again contracted in the first quarter of the year, following Q4 2018’s strong but short-lived rebound. The all-important oil sector led the overall contraction, although the decline in oil activity softened considerably from the previous quarter thanks to higher global crude oil prices. Adding to the stream of downbeat news, manufacturing production contracted sharply in Q1, while activity plummeted in the financial services, commercial and communications sectors. Turning to the second quarter, available data paints a bleak picture: Economic activity slumped in April–May, reflecting sustained contractions in both oil and non-oil activity, which weighed on both domestic demand and the external sector. Moreover, with domestic oil production and global crude prices falling further in June and July, growth dynamics likely remained lackluster at the beginning of the third quarter.
Angola - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-0.3||-5.7||-2.9||-4.5||-6.3|
5 years of economic forecasts for more than 30 economic indicators.
Angola Fiscal Balance Chart
Source: Finance Ministry of Angola
|Exchange Rate||362.7||0.0 %||Sep 04|
|Stock Market||0.1||0.0 %||Sep 04|
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September 13, 2019
The average price of Angola’s Cabinda crude fell from USD 64.9 per barrel (pb) in July to USD 60.7 pb in August, the lowest since January.
Angola: Cabinda crude oil price inched down in July; Angolan production slumps to an over 12-year low
August 16, 2019
The average price of Angola’s Cabinda crude fell from USD 65.5 per barrel (pb) in June to USD 64.9 pb in July.
August 13, 2019
Consumer prices in the province of Luanda rose 1.5% in July from the previous month, accelerating from June’s 1.1% increase and marking the highest print so far this year.
July 26, 2019
At its 26 July meeting, the Monetary Policy Committee (MPC) of the National Bank of Angola (BNA) decided to keep the key policy rate at an over three-year low of 15.50%.
July 18, 2019
Growth slipped back into negative territory at the outset of the year, according to national accounts data released by Angola’s Statistical Institute (INE) on 18 July.