"Economic growth in the second quarter of this year was much better than anticipated; in addition to the continued recovery in oil production, which was already expected, the oil economy remained surprisingly robust despite severe droughts in the south of the country, high inflation and the reduction of transport subsidies", write the analysts.
Commenting on the data from the National Institute of Statistics, which point to an expansion of 4.1 percent, slightly below the 4.6 percent recorded in the first quarter, the African department of this British consultancy says that "the dynamic economic activity in the first half of the year suggests that Angola's economic growth this year should be closer to 4 percent", an improvement on its previous forecast of "2.9 percent".
For these analysts, oil production should increase by 4.3 percent to 1.18 million barrels per day during the year, while growth in the non-oil economy will be sustained by oil refining, mining, transport infrastructure, renewable energy and the extension of the privatisation programme.
