Milton Reis commented this Thursday, at the Ministry of Economy and Planning, on Angola's quarterly national accounts, presented on Monday, which point to GDP growth between July and September 2021 of 0.8 percent year on year and 0.5 percent compared to the previous quarter.
The official said that, although these are still preliminary data, they are in line with other forecasts by international entities and result from the reforms that have been implemented by the executive.
"Today we have the fiscal accounts in order, we have the foreign exchange market stabilized and we are even witnessing the appreciation of the national currency. The data show that we are out of recession and that the economy is starting to grow and we are expecting a more robust growth of 2.5 percent in the current year", he indicated.
What, he added, will allow "to attack another indicator, that of inflation".
"With the increase in national production, prices will clearly fall", stressed Milton Reis, also highlighting the executive's efforts to contain the pandemic to support the dynamism of economic activity.
The 0.8 percent growth in GDP was an "expressive reflection of the non-oil sector with 6.6 percent that offset the 11.1 percent contraction in the oil sector, including gas.
Transport with 70 percent, fisheries with 53 percent, trade with 18 percent, construction (8 percent) and agriculture and livestock and forestry (5 percent) were some of the sectors with the most expressive growth.
With a negative performance were the oil extraction and refined sector (-11 percent), diamonds (-4 percent) and financial intermediation and insurance (37 percent).
The advance in transport activity was justified by the substantial increase in air traffic, as a result of the increase in the frequency of flights and the entry into operation of new urban transport operators in Luanda, while fisheries recorded an increase in catches and the trade sector, benefit from growth in imports as well as industrial production.
The agriculture sector had "a robust performance" thanks to increased production of peanuts, with 360 percent, beef (257 percent), chicken (93 percent), rice (76 percent), goat meat (64 percent) ) and cassava (3.2 percent), which is one of the most important products.
As for the negative contribution of the oil sector, it was influenced by the decline in production, postponement of investment plans and delays in the drilling of wells, resulting from the pandemic, whose impact, namely in terms of the reduction of the workforce, was also felt in the sector of diamonds, pointed out the Secretary of State for Planning.
