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Home > Country Profiles > Angola

Country Profiles

Financial Outlook

Actual growth achieved by the Angolan economy in 2012 was 7.4%, versus an expected 8.2%. Growth expectations for 2013 have been revised down from 7.1% to 5.4%, according to a comment in his state of the nation speech by President José Eduardo dos Santos on October 15, 2013. According to dos Santos, the downward revision reflected the combined impact of several factors, including a long drought, lower than expected returns from the oil sector, and “bad management” of public debt, as well as weakness in the global economy. The country expects to open its own stock market in 2016 as part of a privatization program of state-owned assets, although question marks remain over whether Angolan companies meet international standards of governance. The country is in the middle of an IMF program that aims to tighten fiscal and monetary policy, along with introducing reforms to the exchange rate system and the creation of greater financial transparency to stamp out corruption. Widespread poverty means that the government will face large demands on its budget, which provides an extensive social safety net amounting to some 33.3% of the overall budget for 2013.

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Further reading on Angola

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