Angola’s economic performance “notable,” Economy Minister says

17 October 2013

Angola’s economic performance has been notable over the last six years, with average annual growth of around 9 percent, the Economy Minister, Abraão Gourgel said Wednesday in Luanda according to Angolan news agency Angop.

Gourgel, who was speaking at the ceremony to launch Angola’s 1st Industrial Census, said that the real growth rate over the last six years had been around 9 percent, inflation had been below 10 percent and in 2012 the country posted a budget surplus of 7.7 percent of GDP.

He said that the economy had followed a route of diversification due to its dependence on the oil sector and that the non-oil sector had grown by more than the overall average at a rate of 9.7 percent.

He said however that the weight of the oil sector remained high and that in 2012 it accounted for 97 percent of exports.

The minister said that there were still structural limitations on developing business opportunities, including opening companies, licensing and investment.

Due to these factors, he said, the government had implemented measures to reduce bureaucracy by simplifying the process of setting and licensing companies. (macauhub)