Thu, 08 Oct 2020 18:44 - Updated Thu, 08 Oct 2020 18:44
Angola may grow 1% in 2021
Luanda - The Ministry for Economic Affairs and Planning (MEP) estimates conservative growth of one percent for 2021, whilst the IMF, with a more optimistic projection, expects Angola to grow 3.2 percent, and may come out of successive recessions, the secretary of state for planning, Milton Reis said Thursday in Luanda.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
Milton Reis, State secretary for Planning
Photo: Francisco Miúdo
The government's projection for this year, which already associates the Covid-19 pandemic effect on the economy, is a contraction of 2.8 percent, well below IMF estimates of 4 percent.
Economic activity contracted 1.8% year-on-year in the first quarter and 4.6% in the second quarter of 2020.
Speaking at the Ministry of Economic Affairs and Planning's (MEP's) usual Biweekly Briefing, he stressed that the forecasts are more conservative given the uncertainties of the current economic climate.
According to the secretary of state, as part of the Extended Fund Facility (EFF) signed with the International Monetary Fund (IMF) in December 2018, which will last three years, a mission from the Fund will monitor the programme, from 5 to 12 October, with the aim of assessing the development of macroeconomic variables for the first half of 2020 and seeking to align the macroeconomic framework for the period 2020-2021.
In this regard, a meeting was held on 6 October between the staff of the Ministry of Economy and Planning and the IMF to assess the development of economic activity during the first half of 2020 and GDP forecasts for the years 2020 and 2021, taking into account the context of the Covid-19 Pandemic.
- 08/10/2020 18:31:11
Luanda - With the aim of training national officials in terms of financial study, analysis and research, the country will have, as of Thursday (08), the first financial laboratory, in a partnership between the Angolan government and the US multinational Bloomberg.
- 08/10/2020 10:41:51
Luanda - The National Oil and Gas Agency (ANPG) Wednesday signed an agreement with US oil company Exxon Mobil, for the exploration of crude oil in Blocks 40, 44 and 45 in the Namibe Basin.
- 05/10/2020 07:51:23
Luanda - The chairperson of the Economic Community of Central African States (ECCAS), Gilberto da Piedade Veríssimo, begins Monday an official visit to Angola, with the aim of establishing contacts with the country's authorities.