Inflation falls consistently in Angola

8 July 2011

Luanda, Angola, 8 April – Angola’s rate of inflation has been falling consistently taking into account the stability of its national currency against foreign benchmark currencies, said the governor of the Bank of Angola (BNA).

At the end of a visit to the city to assess the progress of banking in the region and work to restore the regional BNA delegation, governor José de Lima Massano noted that the central bank had been making efforts for Angola’s currency to continue rising in value, as a result of macroeconomic stability.

Massano said that monetary policy would continue to be managed in order to maintain balance, thus allowing the main macroeconomic indicators to remain stable, so that activities can continue and citizens can continue to make investments and savings with a feeling of security.

He added that the Bank of Angola was carrying out a financial education campaign to provide information about the banking business, and to bring citizens closer to retail banks so that savings can be deposited at banks and allow for financing of viable projects.

The governor, cited by Angolan news agency Angop, said that work on the Malanje delegation of the BNA was in its final stages.

The Malanje regional delegation of the BNA also controls the provinces of Kwanza Norte, Moxico, Lunda Norte and Lunda Sul. (macauhub)