Angolan government projects economic growth of 7.1 pct in 2013

11 March 2013

The Angolan economy will post growth of 7.1 percent in 2013 and the expansionist fiscal policy underway will lead to an increase in means of payment and a rise in expenditure in the first quarter, the Angolan government said last week.

The projections were included in a statement issued after a meeting of the Economic Commission of the Council of Ministers, which was used to present the macroeconomic programme for 2013 based on annual inflation of 9 percent and gross domestic product (GDP) growth rate of 7.1 percent.

The meeting was also used to present the Treasury’s financial execution in the fourth quarter of 2012, which was 100 percent, and that non-oil revenues accounted for 94 percent of the projection.

The statement also said that as of January Angola’s international reserves totalled US$33.15 billion, according to the National Bank of Angola. (macauhub)