Analysis by Region - Emerging Markets - Angola

Analysis by Region - Emerging Markets - Angola



The post-pandemic recovery in GDP growth floundered last year owing to lower oil production and a sharp decline in oil prices, which contributed to a currency crash that also curbed private and government consumption. Following slow economic growth of 0.8% in 2023, we forecast a moderate expansion in real GDP of 2.2% in 2024 on the back of a small upturn in crude production, a resurgence in fiscal spending, and increased fixed investment in oil refining, mining exploration, renewable energy, and transport infrastructure.


Angola: Oil output gains and fiscal spending to lift GDP in 2024
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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