Africa-Press – Angola. Angolan Head of State João Lourenço announced on Monday that the country is becoming less dependent on oil and is experiencing an acceptable growth rate of 3.5 percent per year.
Lourenço made the statement during an interview with Angola Public Television (TPA).
“If we consider the non-oil economy, we have a growth rate of 4.5%, with an inflation rate of 22%. We will try to reduce the inflation rate if possible,” said Lourenço, noting that the unemployment rate is 29%.
The President of the Republic said that the debt-to-GDP ratio, which was once above 100%, is currently at 63%.
“Therefore, I think we have more than enough reasons to feel very proud of our independence this year as we celebrate 50 years of independence,” the president said.
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