Oil to nudge Angolan economic growth upward, says BMI Research  

BMI Research expects growth of Angolan gross domestic product to speed up slightly because the outlook for the oil industry is improving, the research house says.

A report by BMI Research says: “We forecast real GDP growth to increase from just 0.3 percent in 2016 to 2.0 percent in 2017 and 4.1 percent in 2018.”

The report notes that even after the international price of oil collapsed, crude oil production continued to dominate the Angolan economy, accounting for 95.2 percent of exports and 70.2 percent of government revenue last year, and infers that oil price movements will continue to dictate the economic outlook.

On the other hand, high inflation and a poor business environment will be a drag on output elsewhere in the economy, precluding a more broadly based recovery, BMI Research says.