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MAP - L'AMREC, la première ONG amazighe au Maroc opère son retour
Par : Al Mustapha SGUENFLE
Rabat - 25 Février 2021 - (MAP) -Première ONG amazighe au Maroc, l’Association marocaine de recherche...
MAP - L'Académie du Royaume : L'ouvrage 'Pour une Maison de l'histoire du Maroc' préconise la création d'une institution dédiée à la mémoire du Maroc
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NNA - مباراة عن أطول حوار إلكتروني الاحد المقبل بعنوان كورونا الى أين ؟
وطنية-تفتتح وزيرة الاعلام في حكومة تصريف الاعمال الدكتورة منال عبد الصمد نجد، عبر تطبيق Zoom ، مباراة عن أطول حوار الكتروني، بعنوان "كورونا الى اين؟"، من تنظيم الاعلامي خليل مرداس...
MAP - Abdelhaq Bouayoune : Quand le Melhoune s'infiltre au plus profond des cœurs des mélomanes
Marrakech -25 février 2021-(MAP)-Réputé pour sa parfaite maîtrise du Melhoune, la mémorisation des poèmes, et une grande connaissance des circonstances...
MAP - DG ONEE : La station monobloc de dessalement de l'eau de mer à Tarfaya, une solution 'efficace' pour répondre à la demande
Tarfaya - 25 février 2021 - (MAP) - La réalisation d’une station monobloc de dessalement de l’eau de mer ...
NNA - Ministère de la Santé Publique : 3469 nouveaux cas au coronavirus
ANI-Le ministère de la Santé Publique a annoncé jeudi dans son rapport quotidien le recensement de 3469 nouveaux cas confirmés...
NNA - إطلاق معرض بيروت الدولي للاختراعات ومباراة العلوم 2021
وطنية-دعت الهيئة الوطنية للعلوم والبحوث، المكتب الإقليمي للاتحاد الدولي لجمعيات المخترعين(ايفيا)، المخترعين من مختلف أنحاء العالم للمشاركة في معرض بيروت الدولي الثاني للاختراعات، الذي سيجري بين 8 و10 نيسان 2021،...
MAP - Les délais de paiement, ce fléau qui exacerbe les maux des TPME
Casablanca- 25 février 2021 - (MAP) -Les retards de paiement continuent d'affecter la santé des entreprises marocaines notamment les TPME....
MAP - Médias sociaux... les 'lives' de l'absurde !
Par:Anouar AFAJDAR
Rabat-25,Février,2021-(MAP)-Ceci n'est pas une règle générale, mais bel et bien des exceptions. Récemment, l'on constate le foisonnement de "lives"...
NNA - Ministry of Public Health: 3469 new cases, 52 deaths
NNA - 3469 new coronavirus cases and 52 deaths have been recorded in Lebanon during the past 24 hours, ...
NNA - وزارة الصحة : 3469 إصابة جديدة و52 حالة وفاة
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وجاء في التقرير: (مراجعة الصورة البيانية)
MAP - Morocco Offers Gulf States Access to Huge Market Thanks to its Geographic Location - Sky News Arabia
Abu Dhabi-February 25,2021-(MAP)-Morocco is offering the Gulf countries access to a huge market of more than a billion consumers in...
MAP - Morocco-EU Trade in Goods Totaled Euro 35 Bln in 2020
Rabat -February 25,2021- (MAP) - Trade in goods between Morocco and the European Union totaled 35 billion euros in 2020,...
Lusa - Business News - Portugal: Tax revenue down € 468M in January impacted by fall in VAT, fuel tax
Lisbon, Feb.25,2021(Lusa)-The Portuguese state collected €468.2 million less in taxes in January compared to the same month in 2020, ...
Lusa - Business News - Cabo Verde: Saab's defence accuses US of promising offsets
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Lusa - Business News - EU/Presidency: European industry more competitive if digital transition investment made now - Vestager
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Lusa - Business News - EU/Presidency: Siza Vieira, commissioner Breton against single market barriers
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Lusa - Business News - Portugal: PSI20 climbs more than 1% unlike most European bourses
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Lusa - Business News - Mozambique: Investment bank donates €491,000 to climate change project
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Lusa - Business News - Portugal: EDP plans to invest €1.2B by 2025 in new markets, Asia
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Lusa - Business News - Macau: Casino operator Melco announces €1.03B loss
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Lusa - Business News - EU/Presidency: Portugal gets support for multinational company tax transparency
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Lusa - Business News - Portugal: TAP flight from Brazil with 100 priority passengers
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Lusa - Business News - Cabo Verde: Simplified, facilitated mobility with new EU visa agreement
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Lusa - Business News - Portugal: Centre region has great Industrial Tourism potential - government
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CNA - Turnover value and volume of retail trade decrease in 2020
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Lusa - Business News - Portugal: EDP believes that green hydrogen will 'boom' in coming years
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Lusa - Business News - East Timor: Businesses call for continued state aid as economic recovery falters
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Lusa - Business News - Angola: Standard Bank unit to confirm removal of detained board member, son
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Lusa - Business News - Macau: Value of goods imported by lusophone countries up 451% in Jan. YoY
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Lusa - Business News - Macau: Airport records 88% drop in passengers in 2020 YoY
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Lusa - Business News - Macau: Gaming operator Galaxy announces negative results in 2020
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Lusa - Business News - Sao Tome: Opposition accuses government of losing control over coronavirus
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Lusa - Business News - Portugal: EDP to invest €19.2B in renewable energy up to 2025
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Lusa - Business News - Mozambique: Total's LNG project invests $250M so far in local companies
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Lusa - Business News - Cabo Verde: Vaccination against Covid-19 will be faster than in plan - minister
Praia,Feb.25,2021(Lusa)- Cabo Verde's minister of health said on Thursday that the 20% annual rate of inoculation of the population against...
Lusa - Business News - Portugal: Stock market opens with PSI20 index up 0.9% to 4,776
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Lusa - Business News - Angola: Country grows 0.4% in 2021, public debt rises to 134% in 2020 - IMF




Washington, Jan. 20, 2021 (Lusa) - The International Monetary Fund (IMF) on Wednesday downgraded its growth forecast for Angola, anticipating a recovery of 0.4%, and public debt of 134.2% last year and 119.9% this year.

"Public debt is expected to rise from 107% of GDP in 2019 to 134% in 2020; projections for 2020 mainly reflect the depreciation of the exchange rate and the fall in oil prices following the shock triggered by the Covid-19 pandemic," IMF analysts wrote in the report detailing the analysis to the fourth review of the fiscal adjustment programme.

According to the paper released on Wednesday in Washington, public debt is expected to fall this year to 120% of GDP, reflecting the beginning of the recovery in growth and a restrictive fiscal outlook, compared to the 107.5% forecast in September.

The government debt to GDP ratio is expected to remain high over the projection horizon and will take slightly longer than previously projected to converge to the medium-term anchor of 60%, which is now only expected to be reached in 2028.

Nevertheless, the IMF said, following the argument put forward in a Lusa interview on Monday, that public debt remains sustainable, although subject to very high risks.

This deterioration in forecasts is accompanied by a sharp reduction in the growth forecast for the Angolan economy, which despite being expected to come out of recession this year, will grow by only 0.4%, which compares with the 3.2% forecast in September, in the third revision of the economic adjustment programme.

"The sustained recovery of growth, based on structural reforms that unblock the main obstacles to growth in Angola, such as strengthening the business climate and governance, will complement the fiscal consolidation that is in our baseline scenario and reduce debt substantially in 2025," the IMF experts added.

Throughout the text, the IMF leaves a lot of praise for the programme's implementation and the authorities' commitment to follow the roadmap of economic policies and structural reforms but warns that the risks are high due to the heavy dependence not only on the oil sector but also on external shocks.

"Despite improving, the outlook for economic developments remains highly challenging due to the slow and uncertain recovery from the Covid-19 shocks," they said, adding that being a highly oil-dependent economy, it has suffered from weaknesses in that sector, such as falling output and only a partial recovery in international prices recently.

These shocks led to the fifth year of recession and difficulties, marked by the rise in the debt to GDP ratio to very high levels, driven by the recent depreciation of the exchange rate.

"Even so, strong fiscal performance and active debt management are preparing the ground for a gradual economic recovery and a reduction in debt-related vulnerabilities," the experts who met virtually with the Angolan authorities at the beginning of December said.

The programme's performance, they said, has been adequate since the third review, all the indicators up to September have been met, except two: the central bank's assets over the central government, and the volume of public debt.

Angola failed to meet some of the agreed targets and indicators, notably concerning the financial sector and central bank provision but presented arguments the IMF technical team considered valid.

Regarding the risks of implementing the programme that finishes at the end of the year, the Fund said that there were significant risks, mainly regarding the level of public debt, oil prices and the fragile economic environment.

However, they stated that to address these risks, the authorities have kept the programme on track, notably by presenting a prudent 2021 budget, implementing an effective debt management strategy, allowing the exchange rate to adjust to shocks, pursuing a sound monetary policy and continuing progress on important structural reforms.

Angola has been under technical and financial assistance from the IMF since the end of 2018 and will receive $4.5 billion by the end of the year to deal with difficulties and re-launch the economy, as well as technical advice on defining economic policies.

MBA/IMYN // ADB.

Lusa






Agency : LUSA

Date : 2021-01-21 10:19:36







 

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