Africa-Press – Angola. The Government foresees a growth of 1.09% in the Gross Domestic Product (GDP) in 2023, against the initially forecast average of 3.6%, said, this Thursday, in Luanda, the National Director for Planning, Alvaro David.
The manager, who was referring to the Review of the Macroeconomic Executive Program for the year 2023, underlined that the balance of payments deficit will amount to USD 319 million, with International Reserves standing at USD 13,943.30 million, equivalent to 7.11 months of imports of goods and services.
Álvaro David, who was speaking at the usual briefing of the Ministry of Economy and Planning (MEP), underlined that the document, approved on 9 August by the Economic Commission of the Council of Ministers, assesses the performance of macroeconomic variables up to the first half of 2023, and anticipates the national macroeconomic performance in the subsequent periods of the year 2023.
He said that, taking into account the expected behavior for the exogenous variables, the Government adopted required macroeconomic management measures, with a view to ensuring the achievement of the objectives set out in the main programmatic documents, with emphasis on those contained in the General State Budget (OGE/ 2023).
The National Director for Planning stressed that high risks to macroeconomic performance still prevail, due to the current geopolitical situation, the reduction in oil production, the captivation of capital expenditure and goods and services and the increase in debt service as a result of the variation exchange.
He stated that it is recommended the immediate and effective implementation of the measures to stimulate the economy and boost its potential, within the scope of the process of economic diversification recently approved, which aim to increase the domestic production of essential products of wide consumption, in order to reduce the general price level and the unemployment rate.
With regard to the National Development Plan (PDN) 2023-2027, Álvaro David informed that the document is concluded at a technical level, awaiting that, later this month, it will be considered by the specialized committees of the Council of Ministers.
He noted that the PDN 2023-2027 is the first medium-term instrument for the implementation of the recently approved Long Term Strategy 2050 (ELP 2050), and presents a new approach focused on the impact of the actions (projects and development activities) to be implemented over the next four years, thus allowing the implementation of program-budgets.
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