Africa-Press – Angola. Consulting firm Fitch Solutions has improved its forecast for Angola’s economic growth to 3.8% this year, helped by oil prices and improving economic conditions after five years of recession.
“We predict that Angola’s real GDP will accelerate from an estimated 0.6% in 2021 to 3.8% in 2022, above the consensus forecast of Bloomberg analysts, which points to 2.2% in 2022” and better than the consultant’s January forecast, which foresaw an expansion of 2.7%, is read in a note sent to investors, quoted by Lusa.
In reviewing the forecast, analysts at this consultancy owned by the same owners of the financial rating agency Fitch Ratings write that “the price of oil will rise from an average of 71 dollars per barrel, in 2021, to 100 dollars this year, which will be an incentive for companies to increase oil production, which is expected to grow 3.5% this year”.
As oil represents 85.4% of Angola’s exports, the price rise will be positive for public accounts, which will also be helped “by the strengthening of the kwanza in a context of improving trade conditions and a reduction in inflation of 25.7%”. in 2021 to 20% this year”.
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