Angola aims to become Middle Income Country

     Politics           
  • Luanda     Monday, 06 March De 2023    23h07  
Ministro da Economia e Planeamento, Mário Augusto Caetano
Ministro da Economia e Planeamento, Mário Augusto Caetano
Cedida

Doha - The minister of Economy and Planning, Mário Caetano João, said in Doha, Qatar, that Angola is working with the United Nations for the process of graduation from Low Income Country, or Least Developed Country to Middle Income Country, a change scheduled for 2024.

For this change, which brings the most diverse challenges and opportunities, the minister said, the work with the United Nations aims to better assess the necessary requirements.

 

The minister was speaking on the sidelines of his participation in the 5th United Nations Conference on the Least Developed Countries taking place on March 5 to 9.

 

The minister  explained that in situations of non-compliance with the minimum requirement in two of the three indicators, as long as the Average Per Capita Income is double the necessary, or instead of USD 1,200 it is USD2,400, the other two indicators can be balanced and the country has this condition.

 

Another indicator, according to the minister, is the Human Capital Index, or multiple, for which requirements similar to the Economic Vulnerability Index, still require some challenges, whose obligations the country has not been able to meet.

 

However, the minister said that work is underway to ensure that these indicators help in Angola's graduation.

On advantages and disadvantages with the change, the minister clarified that the Middle Income Countries present some qualities, mainly in what concerns institutional capacity regarding the socio-economic Development Index.

 

"Therefore, these are the challenges, of us being up to the task of honouring the most diverse commitments, which obliges us to be prepared to no longer receive donations", the minister said.

 

Mário Caetano noted that when the country decided to graduate in 2012, the Average Per Capita Income was over US$3,500, and Angola, along with other indicators, could graduate.

 

"Since 2012 we have gone through an economic and financial crisis, as well as the Covid-19 pandemic that eroded the gains we had," Caetano said.

 

To the minister, these aspects have influenced the Consumer Price Index of products that are still imported, with some inflation also being imported, which makes it necessary to be as rational as possible to effectively understand Angola's level of development.

 

The minister noted that in 2012 Gross Domestic Product was 120 billion US dollars, and that today it has returned to that level, after a crisis. Underlining that the population has grown to about 10 million more, which impacts the socio-economic indicators.

 

"We should not be too focused on whether we will graduate or not. The most important thing is that we can reflect on our challenges in the National Development Plan, which will dictate whether we will graduate or not", the minister explained.

 

To Mário Caetano, above all it is to the indicators of the last ten years that one should pay major attention.





Top Photos

Três pessoas morrem carbonizadas na EN-100

Três pessoas morrem carbonizadas na EN-100

Sunday, 24 March De 2024   17h22

Circulação rodoviária entre Cuanza-Sul e Benguela condicionada

Circulação rodoviária entre Cuanza-Sul e Benguela condicionada

Sunday, 24 March De 2024   17h17

Mulheres pedem políticas mais equilibradas nas empresas mineiras

Mulheres pedem políticas mais equilibradas nas empresas mineiras

Sunday, 24 March De 2024   17h12

Durante visita a China, Presidente João Lourenço convida Xi Jinping a visitar Angola

Durante visita a China, Presidente João Lourenço convida Xi Jinping a visitar Angola

Sunday, 24 March De 2024   17h04

Angola revalida título em andebol nos Jogos Africanos

Angola revalida título em andebol nos Jogos Africanos

Sunday, 24 March De 2024   16h52

Mais de três mil famílias na massificação da produção de trigo no Bié

Mais de três mil famílias na massificação da produção de trigo no Bié

Thursday, 14 March De 2024   22h43

Administração da Ganda (Benguela) entrega gado aos criadores afectados por descarga eléctrica

Administração da Ganda (Benguela) entrega gado aos criadores afectados por descarga eléctrica

Thursday, 14 March De 2024   22h35

INAC denuncia exploração de crianças em pedreiras do Lubango

INAC denuncia exploração de crianças em pedreiras do Lubango

Thursday, 14 March De 2024   21h55

Novas vias desafogam tráfego no Zango (Luanda)

Novas vias desafogam tráfego no Zango (Luanda)

Thursday, 14 March De 2024   21h48

Aumento de crimes provoca superlotação na cadeia de Cacanda na Lunda-Norte

Aumento de crimes provoca superlotação na cadeia de Cacanda na Lunda-Norte

Thursday, 14 March De 2024   21h43


+