Angola foresees 2.4 percent economic growth

  • Minister of Economy and Planning, Mário Caetano João
Luanda – Angolan Executive has predicted a Gross Domestic Product (GDP) growth of approximately 2.4% by 2022, announced Wednesday the minister of Economy and Planning, Mário Caetano João.

 

Speaking to the press, at the end of a meeting of the Economic Commission of the Cabinet Council, he revealed that there is a prospect of growth in the oil sector of 1.3% and in the non-oil sector of 3.1%.

He also said that there is a forecast of performance of the sectors of agriculture (4.8%), fisheries (more than 100%, due to reforms and financing of the sector).

The minister stated that the trade sector, given the developments in plant and animal production and its outflow and sale, could also contribute to GDP growth.

According to the minister, the revision carried out brings encouraging prospects for growth of 0.2% by the end of this year, returning to a growth path that occurred until 2015, while the first assessment, in April, predicted a scenario of stagnation in GDP.

The macroeconomic assumptions for the fiscal year 2022 will eventually take into account the average price of a barrel below the current USD 67/barrel, but above the USD 39 of this year's OGE.

Mário Caetano João said that this is a conservative price, which takes into account the risks in the global economy due to the pandemic, an encouraging move in some economies.

He pointed out that current projections foresee for the next year a production of around 1. 100 million barrels per day, 18, 000 more than it currently produces.

Indebtedness Limits

The Minister of Finance, Vera Daves, explained that the Executive has revised the limits of internal and external indebtedness, in view of the State's capacity to honour the commitments that it eventually assumes.

She indicated that a certain reorganisation of the annual debt plan was sought, establishing close to 3.25 billion kwanza for domestic debt and 2.42 billion kwanza for external debt.

Previously, it was expected to commit 2.18 billion for the internal debt and 3.99 for the external one, according to the minister, noting that the country is indebted in external markets less than expected.

Investor Fees and Emoluments

The CEO of the Angola Private Investment and Export Promotion Agency (AIPEX), António Henriques da Silva, informed that the State seeks transparency in the collection of fees and emoluments from investors.

AIPEX's CEO reacted to the approval of the regulation on fees and emoluments to be charged with the aim of simplifying the processes of implementation of investment projects, with quality to meet the expectations of investors.

He announced that the projects were categorized according to their amount to be invested and the number of jobs to be created, and their impact in structural terms.

António Henriques referred to the existence of a table, to be published, which fixes, for example, the charge of 40,000 for the presentation of investment proposals, 300,000 for the issuance of an investment registration certificate, among others, as well as transparency to create alternative funds for the functioning of the agency.

 

Speaking to the press, at the end of a meeting of the Economic Commission of the Cabinet Council, he revealed that there is a prospect of growth in the oil sector of 1.3% and in the non-oil sector of 3.1%.

He also said that there is a forecast of performance of the sectors of agriculture (4.8%), fisheries (more than 100%, due to reforms and financing of the sector).

The minister stated that the trade sector, given the developments in plant and animal production and its outflow and sale, could also contribute to GDP growth.

According to the minister, the revision carried out brings encouraging prospects for growth of 0.2% by the end of this year, returning to a growth path that occurred until 2015, while the first assessment, in April, predicted a scenario of stagnation in GDP.

The macroeconomic assumptions for the fiscal year 2022 will eventually take into account the average price of a barrel below the current USD 67/barrel, but above the USD 39 of this year's OGE.

Mário Caetano João said that this is a conservative price, which takes into account the risks in the global economy due to the pandemic, an encouraging move in some economies.

He pointed out that current projections foresee for the next year a production of around 1. 100 million barrels per day, 18, 000 more than it currently produces.

Indebtedness Limits

The Minister of Finance, Vera Daves, explained that the Executive has revised the limits of internal and external indebtedness, in view of the State's capacity to honour the commitments that it eventually assumes.

She indicated that a certain reorganisation of the annual debt plan was sought, establishing close to 3.25 billion kwanza for domestic debt and 2.42 billion kwanza for external debt.

Previously, it was expected to commit 2.18 billion for the internal debt and 3.99 for the external one, according to the minister, noting that the country is indebted in external markets less than expected.

Investor Fees and Emoluments

The CEO of the Angola Private Investment and Export Promotion Agency (AIPEX), António Henriques da Silva, informed that the State seeks transparency in the collection of fees and emoluments from investors.

AIPEX's CEO reacted to the approval of the regulation on fees and emoluments to be charged with the aim of simplifying the processes of implementation of investment projects, with quality to meet the expectations of investors.

He announced that the projects were categorized according to their amount to be invested and the number of jobs to be created, and their impact in structural terms.

António Henriques referred to the existence of a table, to be published, which fixes, for example, the charge of 40,000 for the presentation of investment proposals, 300,000 for the issuance of an investment registration certificate, among others, as well as transparency to create alternative funds for the functioning of the agency.