Angola

ANGOLA HAS BEEN LARGELY AT PEACE since a ceasefire between the armed forces and the rebels was signed in April 2002, putting an end to more than 25 years of almost uninterrupted civil war. The country now faces the daunting task of channelling its huge resource endowment into reconstruction of its infrastructure and into poverty reduction activities. Diamonds and, especially, offshore oil dominate the national economy...

L’Angola connaît un croissance économique alerte. Stimulée par la flambée des cours internationaux du pétrole et la rapide montée en puissance de la production des nouveaux champs pétrolifères, la progression du PIB réel aura dépassé les 11 pour cent en 2004. La production de pétrole étant appelée à s’accélérer, cette hausse devrait se poursuivre, à 15.5 pour cent du PIB en 2005, 26 pour cent en 2006 et 20 pour cent en 2007. Bien que l’exploration et la production de gisements pétroliers offshore n’entretiennent que peu de liens avec le reste de l’économie, le secteur contribue par sa seule taille (50 pour cent du PIB) au développement du BTP et à l’émergence de nouveaux services – sans compter que...

Angola is experiencing rapid economic growth. Stimulated by high international oil prices and rapidly increasing output from new oil fields, real GDP growth exceeded 11 per cent in 2004 and, with oil production set to surge still higher, growth is expected to increase further to about 15.5 per cent in 2005, 26 per cent in 2006 and 20 per cent in 2007. While offshore oil exploration and production create very few linkages to the rest of the economy, the sheer size of this sector – accounting for 50 per cent of GDP – provides opportunities for the construction industry and the incipient services sector, as well as recycling of oil revenue through the government...

At the request of the Angolan government in 2005, the IEA conducted a survey of the Angolan energy sector and energy policies. This resulting report on Angola focuses on areas for priority action and hones in on energy subsectors likely to play the largest role in meeting domestic demand for modern energy services: notably electricity and oil products. As biomass currently plays an immense role in meeting the bulk of the energy needs of Angolan households, this sub-sector is also featured, with emphasis on improving the sustainability of this renewable energy source. This study offers a realistic update on Angola’s present day energy situation and identifies the main priorities which could form the basis of an effective overall energy strategy.  It also provides lessons that could be applicable in many other developing countries.

This article addresses the political, social and broader economic context of public finance reforms in Angola, drawing upon historical perspectives of economic development in Africa and the country’s own experience. The article highlights changes in Angolan practices in line with generally accepted public finance principles, and demonstrates how these reforms occurred within a particular political economy and within sets of international financial, economic, trade and political relationships that influenced their design and implementation. The article illustrates how economic structures and governance systems have been directly linked to the platform of natural resources and social relationships in Angola and in the general African context.

THE ANGOLAN ECONOMY GREW by an estimated 19.8 per cent in 2007, up from 18.6 per cent in 2006, boosted by increasing oil production and prices. The non-oil sector also performed well, notably construction, agriculture, manufacturing and financial services, although slightly less well than the previous year. Inflation has remained steady in the past two years, with the consumer price index increasing 12 per cent in 2006 and 11.8 per cent in 2007. This is a significant decrease from the 19 per cent inflation rate in 2005.

Angola: Real GDP Growth and Per Capita GDP (USD/PPP at current prices) appears in African Economic Outlook 2009.

Angola: Stock of Total External Debt (percentage of GDP) and Debt Service (percentage of exports of goods and services) appears in African Economic Outlook 2009.

Angola: Current Account (percentage of GDP at current prices) appears in African Economic Outlook 2009.

Angola: GDP by Sector in 2007 (percentage) appears in African Economic Outlook 2009.

Angola: Demand Composition appears in African Economic Outlook 2009.

Angola: Public Finances (percentage of GDP at current prices) appears in African Economic Outlook 2009.

WITH GROWTH AVERAGING 20 PER CENT over the last three years, Angola ranks among the fastest-growing economies in the world. The growth rate slowed to an estimated 15.8 per cent in 2008 and is expected to turn negative in 2009 before rebounding in 2010. After 27 years of civil war, reconstruction is proceeding, largely financed by oil revenues, which have been developed through foreign investment by the major oil companies. Due to rising food prices, inflation increased to 13.2 per cent in 2008 but is expected to diminish as world commodity prices decline and domestic demand falls off. A technical accident lowered oil output in 2008. The fall in oil prices and the reduction of the production quotas of the Organisation of the Petroleum Exporting Countries (OPEC) will dampen growth in 2009.

AVEC UNE CROISSANCE MOYENNE de 20 pour cent ces trois dernières années, l’Angola fait partie des économies qui progressent le plus rapidement au monde. Son taux de croissance a ralenti à environ 15.8 pour cent en 2008 et devrait être négatif en 2009 avant de rebondir en 2010. Après 27 ans de guerre civile, la reconstruction est en cours, largement financée par la manne pétrolière. En raison de la hausse des prix des denrées alimentaires, l’inflation a grimpé à 13.2 pour cent en 2008 mais devrait reculer avec la baisse du prix des marchandises et le fléchissement de la demande intérieure. Un accident technique a fait baisser la production pétrolière en 2008. La chute des cours du pétrole et la réduction des quotas de production de l’Organisation des pays exportateurs de pétrole (Opep) va ralentir la croissance en 2009.

The Constitution of Angola provides for equal rights for men and women. In addition, the government created a Secretariat of State for the Promotion and Development of Women in 1991. This secretariat was reinstituted as the Ministry of Family and Promotion of Women in 1997 and remains the primary government agency responsible for implementing policies to support equal rights for women.