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Politics

Country economic forecasts "must be rethought, revised and adjusted", PR alert

The President of the Republic, João Lourenço warned this Friday in Luanda that the country's economic forecasts "must be rethought, revised and adjusted" due to the coronavirus pandemic.

: Quintiliano dos Santos/Novo Jornal
Quintiliano dos Santos/Novo Jornal  

João Lourenço spoke as the leader of the Popular Movement for the Liberation of Angola (MPLA), at the opening of the III ordinary meeting of the Central Committee for political organization.

According to João Lourenço, the consequences of the coronavirus pandemic, the Covid-19, is not only a serious threat to the world's public health, but also to the economies of countries on a global scale.

In a little more than two months, João Lourenço stressed, "the world economy has been seriously affected, the main industries have been deeply affected, the number of companies temporarily affected or working far below installed capacity is already large and with enormous losses".

"The price of crude oil had never known such an abrupt fall, in such a short space of time, as in these days. All the world's economies, large and small, oil producers and non-oil producers, are suffering, and uncertainty is growing in the near future", said João Lourenço.

Internally, the Head of State pointed out the need to "rethink, revise and adjust" the economic forecasts, in face of the "unexpected and unfavourable circumstances".

"Without, however, abandoning the great commitments towards the citizens, the country and the international financial institutions, which will certainly help us to go through this challenge more", he said.

The economic diversification and the increase in domestic production of products for export were once again reiterated by João Lourenço, to mitigate the effects of the crisis.

"Today, more than ever, we need to look inward, to work effectively in increasing domestic production of export products, in diversifying the economy, developing agriculture, fisheries and the different industries producing exportable goods", he stressed.

For the leader of MPLA, Angola has to find new sources of foreign exchange generation, however, "the challenge is great".

"The moment is of work and struggle and not of regrets. That the public debate be carried through with this spirit of fight, but with optimism, with hope in better days, therefore the success depends above all on the selfless work of each one and the collective will of all the society", he concluded.

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