Ver Angola

Economy

Non-oil sector could grow 3,42 percent next year

The country's non-oil sector could grow by 3,42 percent next year, according to the Minister of State for Economic Coordination, Manuel Nunes Júnior, who said that a general growth of the national economy of 3,3 percent is also expected, against the 2,7 percent expected for this year.

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The minister was speaking at the inauguration ceremony of the new members of the Board of Directors of the Private Investment and Export Promotion Agency (AIPEX), which took place last Friday, December 23rd.

According to a government statement, accessed by VerAngola, Manuel Nunes Júnior indicated that "the Angolan non-oil sector could grow by 3,42 percent in 2023 and the general growth of the country's economy is expected in 3,3 percent, against the 2,7 percent forecast for 2022".

The minister also said that it was necessary to "consolidate and deepen this new growth paradigm" in the country: "We have to consolidate and deepen this new growth paradigm in our country, driven by the non-oil economy and where the private sector is the main actor", said, quoted in the note.

In his speech, the government official also referred to the program to promote grain production, guaranteeing that it will "reduce the high dependence on imports and contribute to the increase of jobs and income of the population".

He also referred that, in order to increase national production, along with the aforementioned program, "another one will also be implemented to promote livestock production, aimed at increasing the production capacity of meat, eggs, milk and other livestock products, through the private sector, throughout the national territory".

Next year, a fishing promotion program will also come into action which, according to the note, "provides for an increase in fishing, aquaculture and salt production and productivity, with the aim of boosting the regular supply of fish to the population and increasing exports".

"Sectors such as agriculture and livestock, fisheries, manufacturing and extractive industries, tourism and others in the non-oil field that are labor-intensive should deserve our best attention", he stressed.

The minister also said that the General State Budget (OGE) for 2023 has foreseen "resources for these three programs, both for public investments and for credit support to entrepreneurs who are dedicated to these production sectors".

According to the note, he also recommended to those in charge "differentiated work and the presentation of concrete results, in the short, medium and long term, in terms of attracting investments".

"The country needs these results, so that the diversification of the economy becomes more and more a fact, jobs increase, our citizens can have better wages and the living conditions of the populations improve", he said, stressing that this is the "great mission" of the agency's new Board of Directors.

In turn, Lello João Francisco, the new Chairman of the Board of Directors of the agency, indicated that "renovations are being carried out at the agency, with the aim of ensuring investors a good business environment and making it possible to attract investments".

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