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Wed, 18 Apr 2018 18:18 - Updated Wed, 18 Apr 2018 18:18

WB urges implementation of tax reform in Angola

Luanda - World Bank Chief Economist Punam Chuhan-Pole on Wednesday urged the implementation of tax reform in Angola in order to deal with the current context and contribute to the economic growth of the country.

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Angolan delegation at conference on economy and finance

Photo: Cortesia de: João Bernardo/ Edições Novembro

Photo: Tarcisio Vilela

Punam Chuhan-Pole is the author of the Africa's Pulse report, a bi-annual review of the state of African economies conducted by the World Bank (WB), whose document was published on this day.

In a video conference, witnessed by several Media outlets from various countries, including Angola, the WB official said that the current political transition is an opportunity for progress, especially for the economy.

The economist also highlighted the macroeconomic reforms and the diversification of the economy, which is reflected on ongoing investments.

The Africa's Pulse report predicts that Sub-Saharan Africa's growth will reach 3.1 per cent by 2018, averaging 3.6 per cent by 2019/20.

Growth forecasts are based on expectations that oil and metals prices will remain stable and that governments in the region will implement reforms to address macroeconomic imbalances and boost investment.

Angola, South Africa and Nigeria, according to the report, have a moderate pace of economic expansion that is gradually reflected in terms of growth.

As for the other countries, economic activity will increase with the export of metals, as mining production and investment grow, according to the World Bank document.

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