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Angola: Gdp Records 15 Percent Annual Growth
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Angola Press Agency (Luanda)
13 May 2008
Posted to the web 14 May 2008
Luanda
The annual average rate of growth of Angola's Gross Domestic Product (GDP) reached 15 percent over the 2002-2007 period.
This was said Tuesday in Luanda by Angolan deputy minister of Planning, Carlos Alberto Lopes, who added that the figure places the country's economy as one of the world's fastest growing.
According to Carlos Lopes, who was addressing the seminar on "Funding of big projects", in 2007 the rate of inflation recorded a steep fall, reaching 12 percent, contrary to that of 2002, when it was above 100 percent.
During that period, bank order deposits multiplied 13 times, reaching the amount of Akz 624 billion in 2007 which, according to the official, reflects the trust of Angolans in the functioning of the economy and the financial system.
According to data supplied by the deputy minister, the credit to the economy multiplied by about 20, which he considered as the main factor explaining the relevant growth in the country's non-oil sector.
Private consumption rose from 26 percent in the 2000-2003 period to 39 in 2004-2007. It is estimated that the school population grew to nearly six million students, which represents a 75 percent rise in four years.
After 2002, he added, it was possible to resettle more than four million people and about 400,000 refugees, while a special attention was also paid to the sectors of health, education, supply of drinking water, basic sanitation and creation of jobs.
Organised in panels on WB group funding, WB offered products, investment benefits and public-private partnerships, the seminar seeks to present large projects in the sectors of infrastructures, energy and transports.
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The purpose of the meeting is to publicise the various large projects funding options, the instruments of international financial cooperation and public-private partnerships.
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