Africa-Press – Angola. Angola participated this Monday in Washington, United States of America, in an Economic Forum, to share business opportunities and promote the country’s image.
The event, promoted by the United States Chamber of Commerce and the World Bank, took place within the framework of the US-Africa Leaders Summit, to be held from the 13th to the 15th of this month.
Under the motto “Angola, Present and Future”, the initiative brought together businessmen from the USA, Angola and some African countries, who learned about the measures implemented by the Executive to improve the business environment.
During the meeting, the Angolan delegation shared the main gains registered in recent years and the Government’s vision for the next five years (2022-2027).
Topics such as repatriation of capital, increased promotion of the Angolan Executive’s programs and the need to share experiences were at the center of the concerns of American businessmen.
Speaking at the event, the Minister of Economy and Planning, Mário Caetano João, reported that, between 2017 and 2021, imports recorded, on average, a contraction of US$2.7 billion.
According to the official, this is due to the easing of the exchange rate policy, the depreciation of the kwanza and the reduction in the diffusion of the exchange rate, as well as the actions of PRODESI.
Regarding the fiscal balance, he said that, for the year 2022, preliminary data show a general surplus of 2.7 percent of GDP and a primary fiscal surplus of 4.9 percent of GDP.
For 2023, he added, a general positive balance of 0.9 percent of GDP is expected, as a result of global flows of tax revenues exceeding expenditures.
With regard to the stock of public debt as a % of GDP, the minister said that it increased in the period 2017-2020, from 65.9 percent to 133.8.
However, he added, that stock decreased to 82.9 percent in 2021, and it is expected that, by the end of 2022, it will drop to 56.1 percent.
For the year 2023, Mario Caetano João announced that the country will continue to implement measures to preserve the sustainability of public finances, in the short and medium term.
As for the evolution of the exchange rate, he said that it revealed a sharp depreciation of the Kz against the USD, in the period from 2017 to 2021, and it is expected that this trend will be reversed in accordance with the estimates for 2022.
In this regard, the minister said that a slight devaluation is expected, due to the slowdown in oil prices in 2023.
In turn, the Minister of Finance, Vera Daves, spoke to businessmen about the Executive’s strategies for improving the business environment.
Speaking to the press at the end of the meeting, he explained that the forum, in addition to publicizing Angola’s image, aimed to understand the main concerns of US businessmen.
The minister said she had taken good note of the concerns and promised to invite the businessmen to go to Angola to learn about the companies operating in the country and the business opportunities.
As for the view of the World Bank (WB) on the Angolan economy, he said it was positive, underlining that the ongoing reforms in Angola were valued.
According to the minister, the BM challenged the Angolan authorities to continue investing in the energy, water and communication infrastructure sectors, focusing on clean sources of electricity.
Likewise, he said, that financial organization encouraged the country’s commitment to family farming.
Regarding the vision of the WB Director for Angola, Burundi, Democratic Republic of Congo and São Tomé and Príncipe, Albert Zeufack, he said he welcomed the efforts of the Angolan authorities to promote family farming in the country.
He said that the official encouraged the Government to invest in commercial agriculture, in order to increase the scale and quantity produced, for domestic consumption and for export.
Likewise, he said, he highlighted the importance of the country remaining committed to the reforms of the public business sector, in order to make it more efficient and reduce the possibility of being a liability of the State.
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