UNDP supports Angola in the transition to a middle-income country

4 January 2017

The United Nations Development Programme (UNDP) is supporting the Government of Angola to prepare a five-year plan to ensure the nation’s transition to a middle-income country, the economic adviser to the UNDP in Angola said in Luanda.

Glenda Gallardo told UN News that the financial crisis requires concrete targets to achieve good results, stressed that Angolan citizens have an important role and explained why the process is a “challenge and opportunity” for Angola.

Angola’s graduation to a middle-income country is scheduled for February 2021, when it is estimated that the unemployment will be 20%.

The economic adviser to the UNDP in Angola said last June that the graduation should be seen as a challenge and an opportunity, but reiterated that for this, “we need to diversify the economy which relies heavily on oil and make an intense investment in human capital.”

The expert revealed why international support is important for the success of the country’s transition, which in some cases is already considered an middle-income economy.

“There are international banks that are already treating Angola as middle-income, and therefore the graduation planned for 2021 will not represent a major change,” said Gallardo.

Among the UNPD’s recommendations are encouraging the training of young people in the country, as well as access to secondary and technical education and including younger people in production processes. (macauhub)