15 January 2016
The difficulties of the oil industry in Angola may be an obstacle to the shareholders of São Tomé fuel and oil company ENCO "to view São Tomé and Príncipe with confidence," the chairman of the company said Thursday in São Tomé. "Hopefully the constraints linked to the current economic situation, particularly in the Angolan oil industry, will not be an obstacle to the smooth running of ENCO's activities," said the Angolan Adalberto Nhinguisa during the inauguration of the company's new headquarters, a project that cost US$10 million.
8 January 2016
The Major Planning Options and the 2016 State Budget of São Tomé and Príncipe, whose discussion started in the country's parliament, include an economic growth forecast of 5 percent and an inflation rate of around 4 percent, according to press reports. This budget proposal outlines expenses of about 152 million euros, an increase of 34 percent compared to the execution forecast to December 2015 and that already takes account of the credit facility agreed with the International Monetary Fund (IMF).
6 January 2016