Ver Angola


Government fears global economic context of "many uncertainties" impacting on growth

The Government considered this Thursday that the global and national economic context "is challenging and of many uncertainties", mainly due to the volatility of oil prices and the spread of Covid-19, with "potential impact" on economies and business dynamics.


At the opening ceremony of the launch of the Annual Report of the Angolan Debt and Securities Markets 2019, the Minister of Finance, Vera Daves, pointed out a "long way to go" in view of the current "uncertainties of growth of the world and Angolan economies".

According to the minister, the current context is also aggravated by the spread of the coronavirus, noting that the situation "will require the best" from the authorities in terms of "ingenuity, creativity, courage and resilience.

"Obviously we have to face the difficulties with pragmatism and realism," she said, calling on the Angolans "not to lose confidence," their "positivist characteristic" and "leave aside negativism.

For Vera Daves, it is necessary that the citizens maintain the "force of the soul" to face the set of challenges with "positivism, courage and commitment to face this less good moment".

The economist, Francisco Paulo, admitted Wednesday that the situation of Covid-19 in China, Angola's main trading partner, should "reduce revenues" from oil exports and "involve importing" goods and services into the country.

China is the main destination for Angolan crude oil exports and much of the raw material for Angola's small manufacturing industry comes from the Asian country.

However, the Finance Minister said, on the other hand, that despite the uncertainties, the commitment of the body she heads to "rebalance public accounts will continue.

Angola "is not yet working on a budget review scenario because of these uncertainties", but obviously, she noted, "we are closely monitoring the evolution of national and international economic indicators".

"We will continue to monitor closely, without romanticism, without naivety, with realism and always focusing on rebalancing public accounts, ensuring debt sustainability and supporting the growth of our economy and sustainable and inclusive development," she said.


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