Ver Angola

Economy

Reforms in Angola cause pain but are unavoidable, admits BNA governor

The governor of the National Bank of Angola (BNA) admitted this Friday that the reforms underway in the country may cause "pain and pressure to families," but argued that the change in the structure of the national economy is "unavoidable.

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"Angola came from a period of crisis, with the economy falling in the last four years and with a reform program that is aggressive to our standards, we are making a profound change to the structure of our economy," said José de Lima Massano during his speech at the XXX Meetings in Lisbon between the governors of Portuguese-speaking countries, which takes place in virtual format this Friday.

"In the short term, the reforms cause some pain and pressure to families, but in general, what we must conclude in this exercise is that we will have a more inclusive, sustainable economy and this will help to eliminate the inequalities that we have been building over the years, it is a framework of real change of opportunities," added the central banker.

For José de Lima Massano, the reforms launched over the last three years, since João Lourenço took office as President of the Republic of Angola, are already producing visible results.

"We import less consumer goods, we have more national production happening, we have a different look at the country, so there are positive notes, there was a reversal of sensibilities," concluded the banker in the part of the intervention open to the media, which is followed by a discussion among the governors, behind closed doors.

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