Angola’s central bank, the Banco Nacional de Angola (BNA), has sharply revised upward its GDP growth forecast for the country this year, raising its projection from 3.6% to 6.15%, driven by stronger-than-expected performance in the non-oil sector, according to a statement issued on Tuesday, 16 September.
The new projection was contained in the final communiqué of the 131st Monetary Policy Committee meeting, held over Monday and Tuesday in Luanda, and was announced by BNA Governor Manuel Tiago Dias.
“The GDP growth forecast was revised upward to 6.15%, as a result of the improved performance of the non-oil sector,” the governor stated.
According to the BNA, growth in the non-oil sector was also revised higher, to 7.16%, supported primarily by the dynamism of agro-livestock farming and forestry, fisheries and aquaculture, manufacturing, trade, and construction.
The central bank’s new projection places Angola on a trajectory significantly different from the estimates put forward by major international financial institutions.
The World Bank projects growth of 2.4% for the Angolan economy this year, while the International Monetary Fund (IMF) estimates an expansion of 2.3%.
The BNA’s forecast therefore stands 3.75 percentage points above the World Bank’s estimate and 3.85 percentage points above the IMF’s projection.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=544371
