The economic climate for businesses in Angola was unfavourable in the third quarter of this year, according to the Business Climate Survey released this Tuesday (2) by the National Institute of Statistics (INE). The trend is considered negative compared with the same period last year, with reduced growth expectations in the extractive industry, tourism and transport sectors.
According to INE’s statement, quoted by Lusa, despite this result, the indicator “remained above the series average, which shows some stability in economic behaviour.”
The unfavourable trend was mainly due to the reduction in growth expectations in the extractive industry, tourism and transport sectors.
In contrast, the economic outlook during this period was favourable for the construction and manufacturing sectors, with the confidence indicator showing “signs of recovery” in these areas compared with the same quarter last year.
Difficulties in accessing bank credit, high interest rates and excessive state bureaucracy and regulations recorded significant improvements compared with the same period last year, although they continue to be cited as barriers by operators in the construction sector.
In the trade sector, entrepreneurs reported insufficient demand, financial difficulties, excessive bureaucracy and state regulations as the main constraints, along with “sales prices considered too high and stock shortages.”
Financial difficulties, competition and insufficient demand were the main constraints mentioned by entrepreneurs in the transport sector.
Additionally, difficulties in obtaining bank credit, as well as excessive state bureaucracy and regulations, also affected the performance of activities in the transport sector, they noted.
