Luís Epalanga opened the "World Bank Academy" event this Friday, presenting three analytical papers from the World Bank Group on Angola's economic situation and outlook, which took place as part of a delegation's visit to the country this week.
The World Bank presented the first edition of the Angola Economic Report, the Country Economic Memorandum, and the Private Sector Diagnostic.
The minister considered these reports "strategic tools for transformation" because they strengthen the government's institutional capacity to formulate evidence-based policies with greater impact and greater resource allocation.
"They offer strategic information to the national and international private sector by accurately identifying obstacles and challenges, but fundamentally, by pointing out investment opportunities in sectors such as agriculture, manufacturing, energy, infrastructure, and financial and digital services," he said.
According to Luís Epalanga, these instruments also contribute to increasing transparency and predictability in the economic environment, essential elements for consolidating the confidence of investors, multilateral partners, and citizens, while promoting "an open dialogue with civil society, encouraging stimulus, public scrutiny, and shared responsibility of all actors in building sustainable solutions."
The Secretary of State for Planning emphasized that, in recent years, the Government has implemented several ambitious reforms to stabilize the macroeconomic situation, diversify sources of economic growth, improve the business environment, and, fundamentally, promote greater social and financial inclusion.
The results achieved so far compel Angola to continue these reforms with determination, Luís Epalanga emphasized, highlighting that in the first quarter of this year, Gross Domestic Product grew by approximately 4 percent, after having grown by 4 percent in 2024, driven primarily by the performance of the non-oil sector, which grew by 5.4 percent, notably the agriculture (5.7 percent), trade (2 percent), and manufacturing (2 percent) subsectors.
According to the minister, inflation has been on a downward trajectory, "a reflection of prudent monetary policies and exchange rate stabilization and the, albeit insufficient, increase in domestic food production levels," also highlighting the reduction in the unemployment rate from 32 percent in the first quarter of 2024 to 29.4 percent in the same period this year.
"Despite the progress of recent years, structural challenges persist, limiting the full potential of our economy. This is particularly notable for the high dependence on the oil sector, which continues to account for more than 80 percent of exports, more than 30 percent of tax revenues, and just under 20 percent of Gross Domestic Product. This makes the economy vulnerable to fluctuations in events arising from the international context, and sometimes from the domestic context," he emphasized.
Among the members of the World Bank Group delegation is the recently appointed regional vice president for Eastern and Southern Africa, Ndiamé Diop, who, like the Group's senior managing director, Axel Van Trotsenburg, is visiting Angola for the first time.
