Angola: Angolan government projects economic growth of 11.8 pct for 2009

30 October 2008

Luanda, Angola, 30 Oct – The Angolan government has projected economic growth of 11.8 percent in 2008, in the National Plan that was approved Wednesday by the cabinet of Paulo Kassoma, along with the State Budget for 2009.

Growth of the country’s gross domestic product (GDP), according to the Government’s National Plan for 2009, will mainly be driven by the non-oil sector, which is projected to grow 15.98 percent.

The Angolan National Bank (BNA) said earlier this month that Angola’s economic growth, which totalled around 20 percent last year, would be affected by the current economic climate as it is reducing the price of oil on international markets, and oil accounts for a large portion of Angolan exports.

The deputy governor of the BNA, Miguens Oliveira, said that GDP growth this year would be around 15 percent, which was lower than the most recent projections.

On a macroeconomic level, the priorities outlined by Luanda in the Plan approved Wednesday are maintaining the rate of GDP growth, boosting non-oil production and macroeconomic stability. (macauhub)