Angola

Angola é o segundo maior produtor de petróleo de África, depois da Nigéria, produzindo mais de 1.9 milhões de barris por dia (bpd). Na sequência dos choques provocados pela desaceleração económica mundial e pela forte queda do preço do petróleo, que provocou desequilíbrios orçamentais e na balança de pagamentos, o país tem vindo gradualmente a recuperar. O crescimento do PIB registou um ligeiro aumento de 3.4% em 2010, para um valor estimado de 3.5% em 2011, impulsionado principalmente pelos preços do petróleo e pelo forte crescimento do sector não-petrolífero de 7.7%, o que ajudou a compensar os problemas de produção no sector petrolífero. O país deverá registar taxas de crescimento do PIB de 8.2% e 7.1% em 2012 e 2013, respectivamente. Tal crescimento será impulsionado principalmente pelo início do projecto de Gás Natural Liquefeito (GNL), orçado em 9 mil milhões USD, que irá permitir o aumento da produção de petróleo para mais de 2 milhões de bpd. As pressões inflacionárias mantiveram-se elevadas em 14.5% em 2010, e 13.5% (estimada) em 2011, principalmente em resultado do forte crescimento da procura interna. No entanto, estas deverão cair para 10.0% e 9.4% em 2012 e 2013, respectivamente (Tabela 1).

Angola is Africa’s second largest oil producer, after Nigeria, producing over 1.9 million barrels per day (bpd). Since the global economic slowdown and the acute oil price drop that triggered domestic fiscal and balance of payments shocks, the country has been gradually recovering. Its GDP growth slightly increased from 3.4% in 2010 to an estimated 3.5% in 2011, driven mainly by rising oil prices and strong non-oil sector growth of 7.7% which helped to offset production problems in the oil sector. The country is expected to record GDP growth rates of 8.2% and 7.1% in 2012 and 2013 respectively. This will be driven mainly by the start of the USD 9 billion Liquefied Natural Gas (LNG) project and the expected increase of oil production to over 2 million bpd. Inflationary pressures remained high at 14.5% in 2010 and an estimated rate of 13.5% in 2011 mainly as a result of strong growth in domestic demand. However, this is projected to fall to 10.0% and 9.4% in 2012 and 2013 respectively.

Angola's economy is largely dependent on the oil sector and it was hard hit by the collapse in oil prices and demand in 2009. For years one of the fastest growing economies in the world, Angola's real gross domestic product (GDP) growth was just 3.4% in 2010, stalled from 2.4% in 2009 (and down from 13.3% in 2008). Despite the recovery in oil prices, growth was hampered by government arrears in construction and infrastructure payments. The outlook is good however and growth is expected to reach 7.5% in 2011 buoyed by high oil prices and by the resumption of the government's Public Investment Programme (PIP).

This case study focuses on solar tiles, a niche in the solar photovoltaic energy domain. Solar tiles are tiles equipped with photovoltaic (PV) cells that convert sunlight into electricity. The specific focus is the solar tiles being developed by a Portuguese consortium of companies, research institutes and a governmental agency.

L’Angola a été durement touché par l’effondrement des cours du pétrole en 2009. Son essor économique, l’un des plus rapides au monde avant la crise internationale, s’est brutalement arrêté. Le pays a connu une croissance négative en 2009, avec une contraction de -0.6 % du PIB. Un rebond est attendu en 2010, à hauteur de 7.4 %, grâce à la remontée des prix des hydrocarbures. L’inflation est restée forte en 2009, à 14 %, et pourrait grimper à 15 % en 2010.

Angola was hit hard by the collapse in oil prices in 2009. As one of the world’s fastest growing economies prior to the global crisis, economic growth came to a standstill. The country suffered negative GDP growth of -0.6% in 2009. However, the economy is expected to pick up substantially in 2010, with growth rising to 7.4%, owing to projected high oil prices. Inflation remained high in 2009, at 14%, and is expected to edge up further in 2010 to 15%.

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.

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.

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.

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.

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.