Foreign direct investment in Angola expected to rise over 50 pct this year

15 June 2011

Lisbon, Portugal, 15 June – Foreign Direct Investment (FDI) in Angola is this year expected to see a rise of over 50 percent due to a rise in oil prices, according to a report from the Organisation for Economic cooperation and Development (OECD) on the African economy presented Monday in Lisbon.

In its African Economic Outlook 2011 the OECD said that gross fixed capital formation (investment) was expected to rise 13.1 percent this year and 6.6 percent in 2012, with Angolan public investment increasing 15 percent in 2011 and 7 percent in 2012.

Growth of the Angolan economy this year is expected to total 7 percent, “driven by high oil prices and the re-launch of the Public Investment Programme (PIP), the report said.

According to the OECD, “despite a recovery of oil prices, growth was affected by delays in payments by the government to the construction and infrastructure sectors.”

For 2012 GDP growth is estimated at 11.1 percent. (macauhub)