Angola should increase non-oil revenue, IMF says

26 May 2016

Angola should seek to increase non-oil revenue and improve the quality of spending, both in terms of investment and current spending, recommended the resident representative of the International Monetary Fund (IMF) in Luanda.

Max Alier, who spoke at the presentation of the “Regional Economic Outlook” project coordinated by the Faculty of Economics of Agostinho Neto University, acknowledged that much of the government’s agenda for economic diversification is focused on removing barriers to investment and improving conditions for companies to do business.

Alier, cited by daily newspaper Jornal de Angola, mentioned the creation of the Single Window, the new General Labour Law and the new Private Investment Law, approved in 2015, as examples of facilitation of investments in the country.

The IMF representative also noted that the government has been proactive in efforts to diversify the economy, based on the 2013-2017 National Development Programme and said that “before the drop in oil prices, Angola had already begun the process leading to this diversification.” (macauhub/AO)