Ver Angola


World Bank lowers growth forecast in Angola to 2.8 percent this year

The World Bank this Tuesday revised downwards Angola's growth forecast for this year, now estimating an expansion of 2.8 percent, minus 0.5 points below the estimate in the June report.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

According to the Global Economic Forecasts, released this Tuesday in Washington, Angola is expected to have grown by 3.1 percent in 2022, recovering from 0.7 percent in 2021 and accelerating after five years of recession, but will see the its growth slow this year.

"A more stable oil production and revenue level should support activity in the non-oil economy and help improve the fiscal position, but lower oil prices, together with fiscal consolidation measures to reduce public debt, should weigh on public spending and restrict growth", reads the report released this Tuesday in Washington.

The document forecasts 5 percent growth in sub-Saharan Africa this year and next, slightly below the June forecast, economists say, warning that "the external environment is likely to remain challenging for some countries, with further declines in various commodity prices raw materials, which should harm revenues and exports".

Many countries, they add, "should continue to face high prices for imports of fertilizers and fuel, despite being below the peak registered last year".

At the regional level, sub-Saharan Africa is expected to have grown by 3.4 percent last year, 0.3 percentage points below the June forecast, due to the lower growth forecast "in more than 60 percent of countries" due to the slowdown in global economy and the tightening of financial conditions, together with rising inflation, which undermined the already fragile recoveries and increased domestic vulnerabilities", concludes the World Bank.


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