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A fundamental rebalancing of the economy away from oil dependence is needed, but it is not clear that the authorities are wholly committed to full-scale reform: although the finance minister, [...]

The 2018 budget has yet to be passed, but in the absence of external support-there have been suggestions by World Bank officials that the Bank may provide general budgetary support-the [...]

José de Lima Massano was appointed as governor of Angola's central bank, the Banco Nacional de Angola (BNA), in October 2017. During his previous tenure, in 2010-15, he was credited [...]

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exchange rate Kz:US$ (av) 2014 97.6 97.6 97.6 97.6 97.6 97.6 97.1 97.6 97.9 98.8 100.5 102.1 2015 [...]

2014 2015 2016 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr Prices Consumer prices (2005=100) 150.0 153.2 157.5 163.5 170.0 184.5 203.4 [...]

2012[sup.a] 2013[sup.a] 2014[sup.a] 2015[sup.a] 2016[sup.b] 2017[sup.c] 2018[sup.c] Gross domestic product Nominal GDP (US$ m) 115,342 124,912 126,777 102,627 101,709 118,218 125,747 Nominal GDP (Kz bn) 11,011 12,056 12,462 12,321 16,646 [...]

Forecast summary (% unless otherwise indicated) 2016[sup.a] 2017[sup.b] 2018[sup.b] 2019[sup.b] 2020[sup.b] 2021[sup.b] Real GDP growth 0.6 2.5 3.5 2.8 2.5 2.8 Crude oil production ('000 b/d) 1,752 1,734 1,838 2,002 [...]

After a sharp spike to an average of more than 30% in 2016, inflation should trend downwards in 2017-21. We expect the central bank's monetary policy committee to maintain a [...]

After losing an estimated 27% of its value against the dollar in 2016, we expect the kwanza's rate of depreciation to slow in the first half of the forecast period. [...]

Growth is expected to recover during the 2017-21 forecast period, after registering an estimated expansion of just 0.6% in 2016. As oil prices recover, slightly more solid expansion in government [...]

2016 2017 2018 2019 2020 2021 Economic growth (%) US GDP 1.6 2.3 2.1 1.1 2.0 2.0 OECD GDP 1.7 1.8 1.7 1.3 1.7 1.7 World GDP 2.2 2.5 2.4 [...]

Restraining inflation will continue to be a key goal for the Banco Nacional de Angola (BNA, the central bank), which raised its policy rate by 700 basis points (to 16%) [...]

The 2017 budget, passed by parliament in December, targets social spending as well as public investment projects designed to help Angola rebuild its infra-structure after decades of civil war. However, [...]

A fundamental rebalancing of the economy is needed, and will continue to be the focus of ongoing Article IV negotiations with the IMF-the most recent of which was concluded in [...]

Oil production exceeded 1m b/d for the first time at the turn of the year and is on course to double by 2007 or 21108. Increasing exports and revenues are [...]

Event Angola is revising its budget and expects to cut its benchmark oil price to US$40/barrel. Analysis Details of the expected budget revision have emerged via a statement on the [...]

With oil prices continuing to fall, Angola looks likely to be forced to revise its 2015 budget. It will need to cut spending to protect itself against falling revenue, but [...]

The Banco Nacional de Angola (BNA, the central bank) cut its benchmark interest rate by a total of 150 basis points (to 8.75%) between January 2013 and September 2014, reflecting [...]

Event Work has started on the construction of a central research laboratory-Laboratório Geoquímico Central de Luanda-in the capital, while there are plans to build two regional sites, in Lubango (Huila [...]

Falling oil prices and muted global growth look set to make 2015 a difficult year for Angola. Preliminary figures for the 2015 budget-released in late October by the Ministry of [...]

Event Oil-sector contributions to Angolan GDP are likely to fall this year, according to the president, Jose Eduardo dos Santos, and despite likely non-oil growth in excess of 8%, the [...]

One of the key goals of the Banco Nacional de Angola (BNA, the central bank) will be to reduce the level of dollarisation in the economy and thus improve the [...]

The 2013 budget projects the first fiscal deficit since the oil price shock of 2009. This is largely due to the incorporation of the quasi-fiscal operations of the state oil [...]

Growing popular discontent over living standards, particularly given the country's oil wealth, has led to more frequent protests; Mr dos Santos, keen to limit any threat to his rule, will [...]

One of the key goals of the Banco Nacional de Angola (BNA, the central bank) is to reduce the level of dollarisation in the economy-and thus improve the effectiveness of [...]

The government's aim over the forecast period will be to guide Angola's transition from post-conflict reconstruction to sustained economic growth. Policy will focus on implementing the poverty-reduction programme and the [...]

The budget surplus reached an estimated 12.2% of GDP in 2011, on the back of higher than expected oil prices. For 2012 the authorities announced that 33.3% of budget spending [...]

Angola's new mining code, which was approved by the National Assembly in July, will come into force later this year. The long-awaited revisions to the code, which was last updated [...]

Although higher than expected oil prices have provided a significant short-term boost to government revenue, fiscal management remains opaque. The government is seeking to restore confidence in its budgetary management [...]

The Banco Nacional de Angola (BNA, the central bank) is undergoing major reform and restructuring. A new department has been created to mitigate and support the management of liquidity, exchange-rate [...]

The government's aim over the forecast period will be to guide Angola's transition from post-conflict reconstruction to sustained economic growth. Policy will focus on implementing the poverty-reduction programme and the [...]

In February the president's civilian chief-of-staff, Carlos Feijo, announced new figures on Angola's public debt, which reached critical levels in 2010. According to Mr Feijo, a total of US$1.216bn of [...]

The following are among the main targets outlined for 2011. Sticking to the spending targets in the 2011 budget, which is based on a conservative oil price and includes commitments [...]

In February the IMF published its full report of the fourth review of its 27-month stand-by arrangement (SBA) with Angola, worth an estimated US$1.4bn, which was completed in January when [...]

The Banco Nacional de Angola (BNA, the central bank) is undergoing major reform and restructuring. A new department has been created to support and mitigate the management of liquidity, exchange-rate [...]

Although oil prices are expected to be relatively high over the forecast period (at US$86/barrel), fiscal management will remain opaque. The government is struggling to restore confidence in its fiscal [...]

The government's aim over the forecast period is to guide Angola's transition from post-conflict reconstruction to sustained economic growth. Policy will focus on implementing the poverty-reduction programme and the 'second [...]

Prospective joint-venture partners After a long war, bold entrepreneurs start to arrive WHY has British Airways started a weekly flight from London to Luanda? Angolans are not fleeing, but others [...]

African Mining Monitor-(C)1998-2000 M2 COMMUNICATIONS LTD The government of Angola has suspended all contracts on the purchase and sale of diamonds as part of its strategy to correct the irregularities [...]

The government of Angola has approved a plan to reform its diamond sector, part of which is an ending of the marketing monopoly enjoyed by Ascorp, which is controlled by [...]

Angola is considering incentives to encourage investment by major oil companies, says David Jouquim, managing director of state company Sonangol. Jouquim says the country is considering new tax concessions and [...]

WITH exploration offers under way in Gabon, Nigeria., Angola and Namibia, oil companies seeking to diversify their drilling effort are spoilt for choice. Risks are high, as much of the [...]