Angolan GDP to grow 16% in 2005 – African Business Magazine

24 November 2005

Luanda, Angola, 24 Nov – The increase in oil prices and increased production could boost growth of Angola’s gross domestic product (GDP) by 16% with non-oil activities accounting for just 10%, says African Business magazine in its most recent issue.

Since the end of the civil war in 2002, Angola’s economy spearheaded by its oil production has been the most dynamic in Africa. This year total GDP is forecast at USD 13 billion.

In his budget proposal for 2006, Angola’s Finance Minister says that inflation will total 15% as compared to 34% in 2004. The budget is based on daily oil production of 441.4 million barrels and an average export price of USD 26.5 per barrel.(macauhub)