One of the conditions for the
consolidation of the Peace Process and the political stabilization (in
Angola) is to present incentives that produce economic and social
development necessary that will guarantee the creation of jobs and meet
basis human necessities to a population ravaged by war.
In that context, we have decided
to adopt an economic policy addressing free system enterprise, private
initiative, inflation control, the reduction of the budget deficit and the
revitalization of the productive national fabric through an economic
growth stimulus.
In order to attract (and retain)
foreign investment we have been improving on the applicable legislation,
minimizing bureaucratic impediments while addressing measures that will
guarantee the protection of investments and ensure the transfer of
dividends abroad.
On the other hand, our
government intends to prioritize the implementation of special incentives
on fiscal and customs duties, and define other legal means capable of
guaranteeing greater transparency and instill further confidence in the
foreign investor.
His Excellency Jose Eduardo dos
Santos
The President of the Republic of Angola
Angola:
Minister Reaffirms Economy Growth
The Angolan economy will continuing growing in the coming years,
despite the impact of the world financial and economic crisis.
This was reaffirmed Wednesday in Luanda by the Angolan minister
of Economy, Manuel Nunes Júnior.
According to Manuel Júnior, who was speaking about the impact
of the global financial crisis on the Angolan economy, the country
will not record an economic recession, but will instead score an
annual development higher than the rate of the population growth,
which is estimated at three percent.
He stressed the perspective of a growth does not dismiss a slowdown
in the pace of the economic development at least in the two coming
years.
The official pointed out as consequences of the crisis to Angola,
the reduction in incomes from oil and diamonds, the foreign financial
flows, the difficulties in the access to foreign funds and worsening
of the financial conditions in the international market.
According to him, all this will imply a lower quantity of exchange
values into the country.
To him, despite its negative consequences, the world global crisis
has brought a few positive aspects like the drop in the cost of
importing products.
The official said high time Angolan economy was diversified, so
it might cease depend on the oil and diamond sectors alone. "This
is one of the fundamental aspects to make Angola economically less
vulnerable to external shocks ", he stressed.
ECONOMIC AND SOCIAL
EVOLUTION
The economy
is still deeply dependent on the oil sector. The problem is that no
more than 1% of the nation’s workforce is employed in the oil business.
So it is imperative that the other sectors improve their importance
in the productive structure, providing new jobs, increasing and diversifying
the internal market and international exports. The implementation
of proper policies is necessary for the development of industry, agriculture,
building and services so that the actual GDP structure can be characterised
by a major diversification and significant increase in domestic production.
But in terms of orientation and
adequacy on economic policies, an important development has been registered.
Take, for instance, the measures implemented in the monetary-exchange
and tax fields and further developments supported by the International
Monetary Fund (IMF) and World Bank (WB), such as the Program of Humanitarian
Help for the War Displaced and the initial implementation of the Public
Investments Program. Meanwhile, the Government continues its policies
of economic reform.
A N G O L A
ESTIMATIVA DO
PIB A PREÇOS CORRENTES
EM
MILHÕES DE KUANZAS
(GDP, estimates at
current prices, in millions Kz)
Angola:
Minister Reaffirms Economy Growth