Angolan economic growth is exemplary, minister says

4 December 2013

Angola’s economy has posted exemplary growth amongst its African peers, and is a factor that attracts foreign investment, the Angolan economy Minister, Abraão Gourgel said Tuesday in Luanda.

The minister, who was speaking about business opportunities offered by the State as part of the National Development Plan for 2013/2017, the average rate of gross domestic product (GDP) growth is expected to be around 7 percent and the rate of inflation below 9 percent.

Gourgel also said that Angola had favourable macroeconomic conditions for investment, in the Sub-Saharan African context, and was ranked third amongst the region’s countries with GDP of US$122.5 billion in 2012, whilst Ghana, in fourth place, posted GDP of US$40 billion.

According to Angolan news agency Angop, the minister noted that Angola, as well as posting some of the highest levels of growth on the continent, it is also the fifth country in terms of the size of its population and the second-largest by area.

According to the minister, despite the favourable indicators he noted, Angola is still facing constraints to development and business opportunities, and is ranked 179th in the world on this basis. (macauhub)