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Friday 24 September 2021
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‘Angola expects 8% economic growth in 2011’

Angolan President Jose Eduardo dos Santos said Friday in Luanda his country hopes to achieve a four per cent economic growth in 2010 and eight per cent in 2011.

Speaking on the state of the nation at the opening ceremony of the third legisla tive session of the National Assembly, Dos Santos noted that the forecasts were b ased on the diversification of economic activities, in accordance with strategic

directions of the government.

According to him, the country is expecting a 5.7 per cent growth of its non-oil gross domestic product (GDP) through agriculture, energy, processing industry an d services.

He said 2010 was fundamental to ensure sustainable development ideas, even if th e global oil economy has not achieved the strength it had before the 2008/2009 c r isis.

Dos Santos stressed that the government had recorded a significant improvement o n fiscal accounts, which results will consolidate the recovery of the government ‘ s savings for the amplification of public investment programme in 2011 without j e opardizing the public debt.

He said investment in economic infrastructure will help create better conditions for the achievement of private investments that will support the diversificatio n of the economy.

The Angolan President said the monthly average variation of the inflation rate d uring the first eight months of the year is moderate and lying in the order of 1 . 01 per cent.

He said the effect of the foreign exchange market on inflation proved moderate w ith a fluctuation of less than one per cent.


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