Ver Angola


National Bank of Angola predicts inflation of 19 percent and economy to grow 2.2 percent in 2024

The National Bank of Angola (BNA) announced this Friday that the inflation rate is expected to reach 19 percent in 2024, estimating that the Gross Domestic Product will grow 2.2 percent, supported by the non-oil sector.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

The announcement was made by the governor of the BNA, Tiago Dias, at the end of the second day of the meeting of the Monetary Policy Committee of the European central bank.

According to the official, inflation estimates for 2024 are based on the acceleration of terms of trade, insufficient supply of goods and services and vulnerability of the internal supply chain associated with constraints in the international logistics chain.

Tiago Dias also indicated that Angola closed the year 2023 with an inflation rate of 20 percent.

As for economic growth, it stood at 0.7 percent of GDP in 2023, driven by the non-oil sector which will have grown 2.1 percent, expected to increase to 2.2 percent this year, as a result of the expected impacts of the different government programs to stimulate the non-oil sector, which is expected to increase by 4.2 percent, with a reduction in oil production expected.


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