"Angola should return this year to a more visible growth, around 2,5 percent, thanks to a recovery in the oil sector and also in the non-oil sector, which should continue to make a positive contribution to economic activity," said Tiago Dionísio in an interview with Lusa agency to look forward to the year 2022 in Angola.
"Oil production is expected to remain quite modest and the sector's recovery will be very slight, more via price, as the State Budget estimates an average price of US$59 per barrel in 2022, which compares with an average of 67, 5 dollars in 2021, and with the current price around 80 dollars per barrel", explained the economist.
In addition to the oil sector, it will be mainly the non-oil sector that will boost the economy: "Agriculture, extractive industry, construction, should register a favorable evolution that will support economic activity", he highlighted.
Consultant Eaglestone foresees that inflation will slow down in 2022, after registering, in 2021, a rise of 27 percent, but it will remain high, "clearly in the double digits, around 18 or 19 percent", estimates Tiago Dionísio, pointing out that the rise in inflation "was very much based on the increase in food prices on international markets, which was a generalized trend globally".
On the evolution of the national currency, which last year appreciated by more than 15 percent against the dollar, interrupting years of devaluations, the analyst expects a stabilization, predicting that the kwanza will not fluctuate more than in a band of 5 percent, up or down from current levels.
Eaglestone: Angola came out of recession in 2021 and grows 2.5 percent this year
The chief economist at consultancy Eaglestone said that Angola's economy should have come out of recession in 2021 and that it could grow by around 2.5 percent this year, supported mainly by the non-oil sector.
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