The data were released this Thursday at the biweekly briefing of the Ministry of Economy and Planning (MEP) by the Secretary of State for Planning, Milton Reis, and were presented on Tuesday during a meeting with technicians from the International Monetary Fund (IMF) ).
An IMF mission will be in Angola until 12 October to monitor the implementation of the financial assistance program signed in December 2018 and which will last for three years.
The meeting held on 6 October served to “assess the development of economic activity during the first half of 2020 and the projections for the Gross Domestic Product for the years 2020 and 2021, taking into account the context of the covid-19 pandemic” , said the responsible.
The IMF was informed that the economic activity in Angola contracted, in year-on-year terms, 1.8 percent in the first quarter, and 4.6 percent in the second, with GDP in 2020 expected to contract by 2 , 8 percent, less negative than the 4 percent projected by the IMF.
For 2021, the MEP estimates point to a growth of about 1 percent of GDP, while the IMF estimates a growth of 3.2 percent.
“Therefore, our forecasts are more conservative, taking into account the uncertainties of the current situation”, stated Milton Reis.
