Angola grows 4% this year – Fitch Solutions

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Angola grows 4% this year - Fitch Solutions
Angola grows 4% this year - Fitch Solutions

Africa-Press – Angola. The consultancy Fitch Solutions today improved the estimate for Angola’s growth from 3.5% to 4% this year, predicting, however, that economic expansion will slow down in 2023 to 1.8% due to difficulties in the oil sector.

“At Fitch Solutions, we expect Angola’s Gross Domestic Product (GDP) to grow 4% in 2022, up from an estimated 0.6% in 2021, which highlights an upward revision from our previous projection of 3.5% , made to reflect the growth in the second quarter, above expectations”, reads an analysis note to the Angolan economy.

For analysts at Fitch Solutions, owned by the same owners of the financial rating agency Fitch Ratings, the review of growth forecast for this year is based “on a combination of lower inflation and better monetary conditions, in addition to gains in the oil sector, which will accelerate growth overall this year”.

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