Angola: Economy expected to post growth of 11 pct in 2009

10 November 2008

Luanda, Angola, 10 Nov – The rate of growth of Angola’s Gross Domestic Product (GDP) is expected to be 11 percent in 2009, Angola’s prime minister, Paulo Kassoma said in Luanda Friday.

According to Angolan news agency Angop, Kassoma, who was presenting the National Plan and State Budget Proposal to parliament, said that in 2009 projections pointed to annual inflation of 10 percent and production of 739.7 million barrels of oil.

Paulo Kassoma noted that oil GDP growth was estimated at 5.9 percent, whilst non-oil growth would total 15.9 percent.

He noted that the macro-economic framework for 2009 had been outlined using projections for oil production and the expected behaviour of the price of oil on the international market, variables established for inflation targets, the exchange rate and state finance components.

According to Kassoma in 2008 and 2009, there would be a certain slowdown in economic growth, due to the international financial, oil and food crisis, which would affect worldwide projections.(macauhub)