The forecast was put forward by the bank's chief economist in Angola and Mozambique, Fáusio Mussá, during the bank's first economic brifieng via teleconference.
The initiative had a total of 270 participants, including regulators and public institutions, as well as representatives of key sectors of the economy of Angola, Mozambique and South Africa.
On the occasion, the economist also shared his opinion as an analyst regarding the impact of the covid-19 pandemic and the low price of oil on the Angolan economy, as well as the economic prospects for the year post pandemic 2020.
The official says, in a statement sent to VerAngola, that the high levels of poverty and unemployment, the high size of the informal sector, inadequate public health services and the limited capacity to carry out testing are the factors that make the implementation of health measures difficult. complete social distance in Africa.
As a consequence of these factors, the continuous deterioration of the economy is dragging on, with the percentage change in the volume of world trade in goods and services this year dropping by more than 10 percent and the negotiation of oil prices below $ 20 per barrel in April, reflect a contraction in world demand.
He also mentions that the covid-19 is causing a deep recession worldwide in 2020, but with recovery in 2021, and according to that a large part of the African continent's economies will need external assistance. The economist adds that the forgiveness of a part of the external debt is being considered, but clarifies that without a restructuring of the sovereign debt with China, the fiscal adjustment in Angola remains painful.
According to the expert, the economy is expected to continue in a recession, which makes diversification difficult and forecasts an average annual inflation of 20.7 percent and 22.3 percent for next year this year.
