São Tomé and Príncipe and Cabo Verde (Cape Verde) are expected to lead economic growth in Portuguese-speaking Africa in 2018, followed closely by Guinea-Bissau and Mozambique, with Angola seeing the most modest forecasts for Gross Domestic Product (GDP) growth.
The business environment improved from 2016 to 2017 in all Portuguese-speaking countries, among which Cabo Verde (Cape Verde) was the best positioned and Angola the one that rose the most, according to the classification in the World Bank “Doing Business” report for 2018.
The economic openness promoted by the new government of Angola, instated following elections in August 2017, particularly in the areas of telecommunications and oil, is improving the country’s prospects in the medium term and leading some analysts to forecast faster growth.
Angola is receiving support from the International Monetary Fund (IMF) to normalise access by its banks to international money markets, a first step, according to analysts, towards a more comprehensive assistance agreement.
The economies of the Portuguese-speaking countries, with the exception of Mozambique, recorded slight gains in the Global Competitiveness Index 2017-2018, released last week.
The new President of Angola, João Lourenço, takes office this week in a difficult economic and financial context for the country, which is expected to force major changes in the country’s economic policy.
Tourism is growing significantly in Africa and Mozambique is one of the destinations that has benefited from the increase in the number of foreign tourists, according to figures released by the Euromonitor International consultancy.
A few weeks before taking office as the new president of Angola, João Lourenço acknowledged that the country is in need of more incentives to attract further investment and said the Chinese historical leader Deng Xiaoping’s policies were an example of a successful reform.
The availability of European funds to finance cooperation projects in Africa is large, but there is a lack of well-prepared projects, particularly in Portuguese-speaking African countries, according to the president of the Portuguese Development Finance Society (Sofid).
The role played by Macau as a platform in the relationship between China and Portuguese-speaking countries is viewed with renewed interest by economic agents due to the establishment in the Special Administrative Region of the headquarters of the Fund for Cooperation and the “Belt and Road” initiative drawn up by the central government of China.
Angola’s budget deficit is expected to remain high in the coming years, with 7.3% of gross domestic product projected for this year, and then a downward trend to reach 6.1% of GDP by 2021, according to the latest report from the Economist Intelligence Unit (EIU).
Between 2000 and 2015, Angola was the second African country to which the Export-Import Bank of China (Exim) granted the most loans, totalling US$6.9 billion, according to analysts from the China-Africa Research Initiative, of US Johns Hopkins University.
Angola and Mozambique are among the 10 tourist destinations that are expected to record greater growth in demand for leisure travel in the next decade, according to the latest report on the competitiveness from the World Economic Forum.
The introduction in the coming months of a new customs tariff in Angola is feeding expectations among economic agents that replacing the current regime will be a stimulus to the country’s growth.
Continued low commodity prices have led countries such as Angola, Equatorial Guinea and Mozambique to place greater urgency on economic diversification, at a time when the industrialisation of Africa has the support of major international partners, especially China.
The two- or three-way relationship between China and the Portuguese-speaking countries will be in focus on 21 February, at an international conference due to be held in Lisbon where Macau’s role as a contact platform will be a central theme.
The isolationist trend in the foreign policy of the new US administration, particularly towards Africa, has led some analysts to predict that the Chinese “One Belt, One Road” strategy will take on an …
Portuguese-speaking countries should be the “stars” of economic growth in 2017 in Africa, a continent that is expected to see a slight recovery, according to the most recent economic forecasts from international institutions.
Angolan public finances remain under pressure, despite improvements in the oil market and the country’s economic diversification efforts, with funding from China to remain key source of funding, according to Angolan economist Alves da Rocha.
The analysis and dissemination of the opportunities offered by the official Chinese initiative of the New Silk Road for the Portuguese-speaking countries is the goal of a study group set up in Lisbon,…