Ver Angola

Economy

Exchange rate between kwanza and dollar has reached the break-even point

The Minister of State for Economic Coordination, Manuel Nunes Júnior, this Thursday considered that the exchange rate between the kwanza and the dollar had reached a point of balance, with the difference with the parallel market at 10 percent.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

"The differential between the kwanza and the dollar has reached an equilibrium level, with the difference between the official rate and that practiced in the parallel market being less than 10 percent, when there was a 150 percent differential," said the minister responsible for the Economy, during a speech given at the seminar on the economy of Angola, promoted by the Royal Institute of International Studies of the United Kingdom (Chatham House).

In the main speech of the afternoon, the minister listed the difficulties of economic recovery, reviewed the main indicators and stressed that the main objective remains economic diversification, as oil production faces a structural problem.

"As a result of the natural wear and tear in the oil fields, operational problems, and the lack of timely enough investments in oil prospecting, physical production has been decreasing in Angola", admitted the official, later stressing the sector's impact on the economy national.

"Due to the great weight that the sector still has in our economy, the negative growth of this sector has negatively affected the country's global growth", he pointed out, recalling that the Government's estimate points to zero growth this year, after five years of recession, but already with the non-oil economy growing significantly.

"For 2021, we forecast zero global growth, but we must emphasize that for this year the growth forecast for the non-oil sector is 5.9 percent, while the oil sector is expected to register a negative growth rate of 11.6 percent ", said the ruler.

For next year, the Government forecasts an economic expansion of 2.4 percent, sustained by a 3.1 percent growth in the non-oil sector, "which is of great importance because this is the sector that creates the most jobs and is in a better position to contribute to the well-being of Angolans," concluded the official.

Related

Permita anúncios no nosso site

×

Parece que está a utilizar um bloqueador de anúncios
Utilizamos a publicidade para podermos oferecer-lhe notícias diariamente.