Africa-Press – Angola. The consultancy Fitch Solutions considered this Monday that Angola is the country most benefited from the rise in oil prices since the beginning of the year, anticipating an appreciation of the kwanza of 23.1% this year.
“High oil prices are positive for producers, but Angola will be the big winner”, write analysts at consultancy Fitch Solutions, in a comment on the evolution of the main African economies.
In the commentary, sent to investors by the consultancy owned by the same owners of the financial rating agency Fitch Rating, they point out that the rise in oil prices since the beginning of the year, and accelerated since the invasion of Ukraine by Russia, will have positive consequences for Angola.
“We anticipate that Brent oil prices will rise from an average of US$71 per barrel to US$100 this year, and that crude oil production in Angola will increase by 3.5% this year, after a five-year decline, which will increase export revenues, which are worth 90% of the total”, writes Fitch Solutions, quoted today by Lusa.
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