Agricultural production in Angola expected to rise by 12 pct in 2015

20 November 2014

The 9.7 percent GDP growth rate included in Angola’s State Budget for 2015 is the aggregate result of sector forecasts, with a focus on agriculture, which is expected to grow by 12 percent next year, said the Minister for Planning and Territorial Development.

Job Graça, who spoke to members of the 5th Economy and Finance Commission, in the debate on the details of the proposed State Budget for 2015, said the agriculture, construction, industry, oil and market services sectors all together have a weight of 89 percent in the structure of Angola’s GDP.

Cited by Angolan news agency Angop, the minister said growth of the agricultural sector would be due to good results expected in a group of irrigated areas, such as Caxito, Bom Jesus, and Calenga Mucosos that mainly produce fruit.

That growth will also result in the consolidation of a number of medium and large projects, which mainly produce grains and potatoes, vegetables and livestock, as well as family farms, especially in areas where cassava crops, sweet potato, grains and vegetables are predominant.

The minister said that the oil sector is expected to grow 10.7 percent due to increased production of blocks 17, 18 and 31, which together account for about 60 percent of Angola’s oil.

The proposed budget for 2015, which was approved overall on 13 November, includes expected revenue of 4.1845 trillion kwanza and expenditure of 5.216 trillion kwanza, creating a deficit of 1.031 trillion kwanza, which will be covered using external and internal funding. (macauhub/AO)