Angola grows again after five years of recession | Angola

After a five-year cycle of recession, the Angolan economy managed to return to growth last year, a period in which GDP rose 0.7%, according to preliminary data from Angola’s National Statistics Institute (INE). If this figure is confirmed, it is above the 0.1% growth estimated by the IMF in December, but is still lower than the 0.9% rise in GDP recorded in 2015, the last year of economic growth – followed by changes in -2.6% in 2016, -0.2% in 2017, -2.1% in 2018, -0.6% in 2019 and -5.2% in 2020. The sharp drop in the economy in 2020 is explained by the effects of the covid-19 pandemic, which was worsened by the fall in oil prices, a key raw material for the country’s wealth.


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