Questioned by Lusa, on the sidelines of the Angola Oil&Gas conference, about the data released Tuesday, which put August inflation at 13.54 percent, within the limits of the 12 to 14 percent range expected by the Government, Lima Massano considered that inflation is, nevertheless, within what was expected.
“We are not in a situation of out of control at that level, so the parameters continue to be reasonable and we hope that, in the coming months, price behavior will be milder”, he stressed, although recognizing that the pressure on prices continues, essentially due to factors such as supply on the international market, the devaluation of the kwanza and the impact of the correction in fuel prices.
Regarding whether the Government will revise downwards its growth forecasts for 2023, following the example of the IMF, essentially due to the reduction in oil production, the minister declined to respond, opting to emphasize that the focus has been on the non-oil sector.
“Our expectation is that it will continue to grow, despite this challenging context, but with a set of measures to stimulate and boost the economy itself, what we hope is that, in this year 2023, the non-oil sector will continue with a growth rate in line with population growth”, stated Lima Massano.
The official highlighted that Angola has no direct influence on some of the factors that end up impacting the production and price of oil and reiterated, therefore, that it is the non-oil sector that has to continue to grow, in a robust way and that is capable to meet the country's main needs.
“The oil sector, yes, is a catalyst for our economy, it continues to represent around 95 percent of our exports, and, therefore, the generation of foreign exchange resources, resources that are used to continue stimulating the other sectors of the economy. Assuming that the oil sector has its own dynamics, where we have to put more attention and more energy is in the non-oil sector”, he stressed.
Asked about the issuance of 'eurobonds' (sovereign debt securities issued in foreign currency) he said that it is not being considered for 2023.
“We are seeking to organize our public finances to be able to execute the General State Budget and with the resources we have available. ‘Eurobonds’ we can consider for following years,” he said.
At the opening of the conference, the minister highlighted that Angola is changing the energy matrix, investing in alternative sources of electrical energy and added that the “exercise of reducing gas emissions must be done consciously, with knowledge of the reality of each country and the investments that are necessary so that natural resources continue to be explored”.
