News

Angola to grow 2.3pct this year, says African Economic Outlook report

The Angolan economy will grow by 2.3 percent this year and 3.2 percent next year, according to the African Economic Outlook report released yesterday.

The report says the economy grew by 1.1 percent last year and will continue to grow as public spending increases and a stronger price for oil exports assists the terms-of-trade.

The report suggests Angola boosts support for entrepreneurship and industrialisation. The country’s National Industrialisation Programme identifies seven key industries, including textiles and clothing, and chemical and paper products, to complement food and beverages.