Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.
The Angolan economic growth is expected to be “modestly positive” in 2022 as non-oil sectors continue to recover and oil production stabilizes, the International Monetary Fund (IMF) said on Thursday, asserting that the recovery that began in 2021 is expected to continue this year.
The multilateral lender said high oil prices and strong non-oil revenues are estimated to have yielded a substantial overall fiscal surplus 2021. High oil prices have also led to a large current account surplus, a stronger exchange rate, and adequate international reserves.
Angola’s non-oil sector began growing last year while oil production fell. Non-oil GDP averaged 5.2 percent growth through the first three quarters of 2021.
