Tue, 03 Jul 2018 17:22 - Updated Tue, 03 Jul 2018 17:21
Non-oil sector foresees 5.1 percent growth/year
Luanda - Angola's minister of State for Economic and Social Development Manuel Nunes Júnior has predicted an average annual growth of 5.1 percent in the non-oil economy in Angola in 2018-2022.
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
Announcing national development plan 2018-2022 to enrepreneurs
Photo: Rosario dos Santos
Manuel Nunes attributed the growth to the sectors of agriculture, with an annual average rate of 8.9 per cent, fisheries (4.8 %), manufacturing (5.9%), services including tourism (5.9%)
and construction (3.8).
Addressing business class at presentation of National Development Plan (PDN) Tuesday, the minister said the oil sector in referred period will have a negative annual average growth of about 1.8 percent.
According to him, this means that the non-oil sector will have to grow strong enough to counterbalance this negative signal from the extractive industry.
In order to achieve these goals, he defended strictness and focus on implementation of National Production Support Programme.
He also backed the promotion of exports and substitution of imports (Prodesi), seen as the main programmes of National Development Plan.
Meanwhile, the official said that macroeconomic stability is crucial for
increasing domestic production, making entrepreneurs stronger and more competitive, promoting exports outside the oil sector and replacing imports.
Manuel Júnior added that macroeconomic stability, presented today to entrepreneurs, will remain among the main objectives to achieve the National Development Plan (PDN 2018-2022).
He believes that the increase of national production and diversification of the economy are a national imperative, as often mentioned by the President of the Republic and head of the Executive, João Lourenço.
"If we fail to achieve strong, sustained and diversified economy, we will not manage
to address the country's serious social problems, such as unemployment, hunger and misery," he recalled.
National Development Plan 2018-2022’s projections points to an average annual growth in real terms of three percent, he said.
In the view of the minister, the pressure on foreign exchange will be less, and he stressed that savings will be used to invest more intensively in areas reserved for the strategic development of the country, such as education, health, science and technology.
The minister also pointed out that the increase of national production will allow to create more jobs and increase the incomes of the populations and the consequent quality of life of Angolans and to fight poverty.
The PND 2018-2022 brings 83 programmes and becomes the main document of planning and direction of the Executive action.
- 31/01/2019 17:55:18
Saurimo - The provincial governor of Lunda Sul, Daniel Félix Neto, assured Thursday in Saurimo, to support peasants with agricultural instruments and seeds, as part of the Government's strategy to combat hunger and poverty.
- 31/01/2019 10:43:25
Malanje - Angola and Namibia on Wednesday discussed technical, economic and environmental requirements for the construction of the Baynes Binational hydroelectric dam in the border region of both countries.
- 30/01/2019 11:42:40
Luanda - The Bio-energy company of Angola (BIOCOM) expects to increase its sugar production this year, from the prior 73,000 produced in 2018 to 100,000 tonnes in 2019, said the firm’s assistant manager, Luis Júnior.
- 30/01/2019 09:01:30
Luanda - The state-owned National Fuel Society (Sonangol) exported in the last quarter of last year 92,211 metric tonnes of crude-oil, which yielded a revenue of just over 39.5 million dollars, announced on Tuesday the company’s Executive Commission head for international trade, Luís Manuel.