Africa-Press – Angola. The Angolan economist Manuel Alves da Rocha said this Tuesday, in Luanda, that the oil sector is the country’s main source of income and foreign exchange earnings, far surpassing diamonds (with weight in the Gross Domestic Product of four percent).
The university professor also made this statement during the 1st Forum on “The future of the capital market in Angola, new investment and financing opportunities through BODIVA”, promoted by Lucrum Trust – Sociedade Corretora de Valores Mobiliários.
Official data indicate that the oil tax revenue collected by the State, in the first quarter of this year 2023, was around 1.3 billion kwanzas, 800 billion less, compared to the same period, in which Kz 2.1 billion fell.
These values (Kz 1.3 billion) resulted from the sale of 96.84 million barrels of oil at an average price of USD 79.31, based on data available on the Ministry of Finance website, through the Special Taxation Directorate (DTE) .
In relation to the first quarter of 2022, in which the State collected 2.1 billion kwanzas, 103.144 million barrels were exported, at an average price of USD 87. per barrel and by the quantities of crude oil exported.
“We do not have an activity corresponding to oil. Many think that diamonds generate foreign currency, as the weight of diamonds in the Gross Domestic Product is around four percent. And that being so, there is a need for a paradigm shift, attracting foreign private investment,” he said.
Speaking on the theme “Economic diversification and its investments”, he underlined that Angola has to be in constant transformation, with attention turned to the social and economic agents involved in the process of the Angolan Debt and Values Exchange (BODIVA).
“The foreign exchange market today is completely different from the one we had five, six or seven years ago, where the market was liberalized. Currently, the capital market gives us a systematic devaluation of the national currency, ”she compared.
Para Manuel Alves da Rocha, o crescimento da economia e a sua diversificação estrutural são fontes credíveis para conferir à moeda maior confiança, pelo que se deve ter a precisão ou necessidade maior de disponibilização de kwanzas, para se adquirir o dólar e o euro.
Na ocasião, o prelector defendeu a aposta em outras fontes geradoras de rendimento, pois entende que, para a economia funcionar, deve-se ter consciência de se investir em outros sectores, como por exemplo na transição energética.
Por outro lado, a administradora Executiva da Lucrum Trust, Maria Moreira, explicou que a sua empresa traz uma estratégia única que lhe permite levar o melhor do mercado aos seus clientes, projectando investimentos orientados para objectivos mais adequados às suas necessidades específicas.
“(…) We provide specialized and necessary advice for making the best decisions”, he summarized.
This forum aims to fill in the lack of knowledge that exists about the securities market, in matters such as investment in the stock exchange and investment opportunities, mainly in the transition process.
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