"The real growth of Angola's Gross Domestic Product (GDP) last year was 0.9 percent", Thibault Lemaire told Lusa, adding that the slowdown compared to 2022 was motivated by the decline in oil production and prices.
Asked about the difference between the 0.5 percent for 2023, presented in the report on the World Economic Outlook and in the report on the Regional Economic Outlook for sub-Saharan Africa, released last week, Lemaire explained that the difference results from updating the forecasts between the moment the report was released and the statements to Lusa, reported this Monday morning.
"We confirm the GDP growth data last year, 0.9 percent, and the growth forecast for this year of 2.6 percent," said the economist, adding that the difference between the reports and the values presented in this Monday morning results from "a recent update".
The IMF forecasts growth of 2.6 percent and 3.1 percent this year and next in Angola, below the 3.8 percent and 4 percent estimated for the sub-Saharan African region.
Even so, the Fund predicts a "gradual recovery of economic activity in 2024, supported by the performance of the oil and non-oil economy, with inflation remaining high this year and gradually decelerating".
In reports released last week, the Fund predicted that, after a 13.6 percent increase last year, prices would rise 22 percent this year and 12.8 percent in 2025.
In terms of recommendations, the economist responsible for coordinating the report on sub-Saharan Africa, released on Friday, says that "in the short and medium term, budgetary consolidation and reforms in this area are essential to reinforce budgetary and public debt sustainability " and concludes that "accelerating the implementation of structural reforms is essential to guarantee macroeconomic stability and promote diversified, resilient and inclusive growth".
In sub-Saharan Africa, growth is expected to increase from a predicted 3.4 percent in 2023 to 3.8 percent in 2024 and 4 percent in 2025, "with the negative effects of climate shocks continuing and problems in the supply chains supply to gradually improve", says the Fund.
At a global level, the IMF improved its global growth forecast by a tenth to 3.2 percent this year, a rate it also expects for next year.
The institution led by Kristalina Georgieva predicts that global growth, estimated at 3.2 percent in 2023, will continue at the same pace in 2024 and 2025.
The forecast for 2024 was revised upwards by 0.1 percentage point (pp) compared to the January report and by 0.3 (pp) compared to October last year.
