Ver Angola


José de Lima Massano: goal is for inflation to drop to single digits in 2024

The governor of the National Bank of Angola said this Wednesday, in an intervention at a conference in Portugal, that the main objective of the institution's monetary policy is to ensure that inflation drops to single digits by 2024.


"We are migrating to an inflation targeting regime, we have seen a drop in inflation in Angola, and the April data on price developments in Luanda show the lowest value since July 2015", said José de Lima Massano. in his speech during the morning at the seminar 'New Cycle of the Angola Economy', at Universidade Nova, in Carcavelos, organized by the Portugal Angola Chamber of Commerce and Industry.

"The goal is single-digit inflation, this week the National Statistics Institute releases May figures, and the outlook is for an even sharper fall than in April, and we expect inflation to end the year at 18 percent, and we aim for single-digit growth by 2024," added the central bank governor.

The national currency, the kwanza, has appreciated in recent months, now worth 430 kwanzas to the dollar, following high fuel prices, which helps to alleviate the rise in inflation in the country, which is heavily dependent on imports.

José de Lima Massano said that the kwanza had appreciated 30 percent against the dollar since the beginning of the year, and stressed that last year the currency had appreciated by 18 percent against the dollar, recovering from the strong drops it had registered since 2017.


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