{"id":37630,"date":"2023-06-21T17:45:56","date_gmt":"2023-06-21T17:45:56","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/?p=37630"},"modified":"2023-06-21T17:48:08","modified_gmt":"2023-06-21T17:48:08","slug":"the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings","title":{"rendered":"The oil sector is the country&#8217;s biggest source of foreign exchange earnings"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Angola. <\/strong><\/span><b>The Angolan economist Manuel Alves da Rocha said this Tuesday, in Luanda, that the oil sector is the country&#8217;s main source of income and foreign exchange earnings, far surpassing diamonds (with weight in the Gross Domestic Product of four percent).<\/b><\/p>\n<p>The university professor also made this statement during the 1st Forum on \u201cThe future of the capital market in Angola, new investment and financing opportunities through BODIVA\u201d, promoted by Lucrum Trust &#8211; Sociedade Corretora de Valores Mobilia\u0301rios.<\/p>\n<p>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.<\/p>\n<p>These values \u200b\u200b(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) .<\/p>\n<p>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.<\/p>\n<p>\u201cWe 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,\u201d he said.<\/p>\n<p>Speaking on the theme \u201cEconomic diversification and its investments\u201d, 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 \u200b\u200bExchange (BODIVA).<\/p>\n<p>\u201cThe 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, \u201dshe compared.<\/p>\n<p>Para Manuel Alves da Rocha, o crescimento da economia e a sua diversificac\u0327a\u0303o estrutural sa\u0303o fontes credi\u0301veis para conferir a\u0300 moeda maior confianc\u0327a, pelo que se deve ter a precisa\u0303o ou necessidade maior de disponibilizac\u0327a\u0303o de kwanzas, para se adquirir o do\u0301lar e o euro.<\/p>\n<p>Na ocasia\u0303o, o prelector defendeu a aposta em outras fontes geradoras de rendimento, pois entende que, para a economia funcionar, deve-se ter conscie\u0302ncia de se investir em outros sectores, como por exemplo na transic\u0327a\u0303o energe\u0301tica.<\/p>\n<p>Por outro lado, a administradora Executiva da Lucrum Trust, Maria Moreira, explicou que a sua empresa traz uma estrate\u0301gia u\u0301nica que lhe permite levar o melhor do mercado aos seus clientes, projectando investimentos orientados para objectivos mais adequados a\u0300s suas necessidades especi\u0301ficas.<\/p>\n<p>\u201c(&#8230;) We provide specialized and necessary advice for making the best decisions\u201d, he summarized.<\/p>\n<p>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.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/angola\">Angola<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Angola. The Angolan economist Manuel Alves da Rocha said this Tuesday, in Luanda, that the oil sector is the country&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":37629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,337,329],"class_list":["post-37630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The oil sector is the country&#039;s biggest source of foreign exchange earnings - Angola<\/title>\n<meta name=\"description\" content=\"The Angolan economist Manuel Alves da Rocha said this Tuesday, in Luanda, that the oil sector is the country&#039;s main s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The oil sector is the country&#039;s biggest source of foreign exchange earnings\" \/>\n<meta property=\"og:description\" content=\"The Angolan economist Manuel Alves da Rocha said this Tuesday, in Luanda, that the oil sector is the country&#039;s main s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-21T17:45:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T17:48:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/06\/sm_1687353203.921333.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1655\" \/>\n\t<meta property=\"og:image:height\" content=\"1062\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"The oil sector is the country&#8217;s biggest source of foreign exchange earnings\",\"datePublished\":\"2023-06-21T17:45:56+00:00\",\"dateModified\":\"2023-06-21T17:48:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings\"},\"wordCount\":521,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/06\/sm_1687353203.921333.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/the-oil-sector-is-the-countrys-biggest-source-of-foreign-exchange-earnings\",\"name\":\"The oil sector is the country's biggest source of foreign exchange earnings - 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