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Lusa - Business News - Turkish President Recep Tayyip Erdogan visits Angola -3
Angola President Joao Lourenço(L) flanked by Turkish counterpart Recep Tayyip Erdogan(C) during the farewell ceremony at Presidential Palace in Luanda,Angola,...
NNA - إطلاق خدمة UNCOVER Lebanon في البترون للاطلاع على تاريخ المواقع الاثرية عبر لوحات ممكننة بتقنية CODE QR
وطنية - أفادت مندوبة "الوكالة الوطنية للاعلام" عن اطلاق خدمة UNCOVER Lebanon في مدينة البترون، بالتعاون مع بلدية البترون، جمعية تجار البترون وبرنامج Impact Rise وبرعاية شركات "داينميك اوبدجكتس"، ...
NNA - Ministry of Public Health: 450 new coronavirus cases, 4 deaths
NNA – 450 new coronavirus cases and 4 deaths have been recorded in Lebanon in the past 24 hours, ...
Lusa - Business News - Turkish President Recep Tayyip Erdogan visits Angola
Angola President Joao Lourenço(R) greets Turkish counterpart Recep Tayyip Erdogan(L) during the farewell ceremony at Presidential Palace in Luanda, Angola,...
NNA - زار وزير الأشغال العامة والنقل زار الأكاديمية العربية للعلوم والتكنولوجيا والنقل البحري ووقع مذكرة تنسيق وتعاون مع رئيسها
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NNA - وزارة الصحة : 450 إصابة جديدة و 4 حالات وفاة
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Lusa - Business News - Turkish President Recep Tayyip Erdogan visits Angola -1
Angola President Joao Lourenço(L) greets Turkish counterpart Recep Tayyip Erdogan(R) during the farewell ceremony at Presidential Palace in Luanda, Angola,...
NNA - توقيع اتفاقية تعاون بين صندوق التنمية والاجتماعية والفاو لدعم التعاونيات والجمعيات النسائية في الريف
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NNA - Ministère de la Santé : 450 nouveaux cas de covid-19 et 4 décès
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Lusa - Business News - Portugal: One of six countries to adopt energy price alleviation measures
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Lusa - Business News - Portugal: BMW, Critical Software Joint venture hires 500 workers this year
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Lusa - Business News - Portugal: Stock market rallies almost 1%, standing out from European peers
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Lusa - Business News - Portugal: Extra VAT on fuel following hikes offset by lower fuel tax - PM
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Lusa - Business News - Mozambique: CPLP businesspeople demand measures against kidnappings
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Lusa - Business News - Portugal: New Lisbon airport decision should be 'swift, final' - regulator
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Lusa - Business News - Angola: Mota-Engil interested in managing Lobito corridor
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Lusa - Business News - Portugal: Wine exports to August up better-than-expected 13% YoY to €581M
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Lusa - Business News - Ataque de orcas provocou danos em embarcação de pesca a sul de Troia
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Lusa - Business News - Portugal: Air traffic increases in August but still 40% below 2019 numbers - INE
Lisbon, Oct.19,2021 (Lusa) – Passenger movement at national airports increased 76.3% in August compared to the same month last year,...
Lusa - Business News - Portugal: Eight in ten children aged 6-8 eat sweets, salty snacks up to three times/week - study
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Lusa - Business News - Mozambique: Credit Suisse about to do deal with US justice in 'hidden debt scandal'
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Lusa - Business News - Cabo Verde: Country welcomes first cruise ship with tourists in 19 months
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Lusa - Business News - Portugal: Country among those set to limit pensions spending by 2060 - OECD
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Lusa - Business News - Portugal: Country leads euro zone, EU drops in construction output in August
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Lusa - Business News - Angola: Turkish companies ink deals for energy, industry, agriculture projects
Luanda, Oct.19,2021(Lusa)–Six Turkish companies have signed memoranda of understanding with Angola to develop projects in the areas of energy, industry,...
Lusa - Business News - Portugal: Country to show 'it makes sense' as partner country at
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Lusa - Business News - Portugal: Fuel consumption recovers in September, grows 10.46% YoY - ENSE
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Lusa - Business News - Portugal: Reducing taxes not 'silver bullet' to enable businesses to produce,
Braga,Oct.19,2021(Lusa)-The infrastructure and housing minister has said that it was a "narrow view of economic policy" to think that reducing...
Lusa - Business News - Portugal: Azores, Chinese entrepreneurs ink deal to boost investment, exports
Angra do Heroísmo, Azores, Oct.19,2021(Lusa) – The Angra do Heroísmo Chamber of Commerce (CCAH) and the Portugal-China Chamber of Commerce...
Lusa - Business News - Portugal: 'Good news' on electricity price, gas price 'more difficult' - minister
Lisbon, Oct.19,2021(Lusa)-The economy minister, Siza Vieira, has said that the government is working to reduce gas prices for industrial companies,...
Lusa - Business News - Portugal: Stock market opens with PSI20 index at 5,624
Lisbon,Oct.19,2021(Lusa)–The Lisbon Stock Exchange opened Tuesday in positive territory, with the main index, the PSI20, up 0.09% to 5,624.24 points....
Lusa - Business News - Portugal: Top newspaper headlines on Tuesday
Lisbon, Oct. 19, 2021 (Lusa) – The government begins state budget negotiations today and this evening’s crucial Champions League clashes...
Lusa - Business News - Angola: Recession of 0.7% this year - IMF forecast




Washington, Oct.12,2021(Lusa)- The International Monetary Fund (IMF) has worsened its growth forecast for Angola, now anticipating a recession of 0.7%, the sixth consecutive annual fall in the country's wealth, before growing by 2.4% in 2022.
According to the World Economic Forecast, released today as part of the IMF and World Bank Annual Meetings taking place this week, the second-largest oil producer in sub-Saharan Africa will record its sixth consecutive year of recession.
Angola has faced negative gross domestic product growths since 2016, following the decline in oil prices, which affected state revenues, and the slowdown in oil production due to lack of investment and the natural decline in reserves.
The new IMF forecasts come just days after the government of Luanda updated the macroeconomic scenario, in which they estimated stagnation (zero growth) this year. However, in an interview with Bloomberg last week, the finance minister said that recession was still a possibility.
Angola's minister of state for economic coordination, Manuel Nunes Júnior, said last Thursday that the reduction in oil activity, along with the effects of the pandemic, was one of the main reasons for the negative growths of recent years.
"Due to the great weight that the sector still has in our economy, the negative growth of this sector has negatively affected the overall growth of the country," he said, recalling that the government's estimate points to zero growth this year, after five years of recession, but already with the non-oil economy growing significantly.
"For 2021, we foresee zero overall growth, but we should point out that for this year, the growth forecast for the non-oil sector is 5.9%, whilst the oil sector is expected to post negative growth of 11.6%," he said in a speech made at a seminar on the Angolan economy organised by the Royal Institute of International Studies (Chatham House).
For next year, the government is forecasting economic expansion of 2.4%, based on the growth of 3.1% in the non-oil sector, which is of great importance because this is the sector that creates the most jobs and is in the best position to contribute to the wellbeing of Angolans, he said.
The IMF, in the report, does not explain the reasons for having lowered its growth forecast for this year, but only considers, in the tables with the estimates, that inflation in Angola will rise from 22.3%in 2020 to 24.4% this year, before slowing to 14.9% in 2022.
MBA/IMYN // VM
Lusa


Agency : LUSA

Date : 2021-10-13 09:45:00







 

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