13 June 2012

Angola: WB Acknowledges Effects of International Crisis On Angola's Economy

Luanda — The Angolan economy has been growing satisfactorily in the past ten years of peace, considered on Tuesday in Luanda, the World Bank representative to Angola, Elio Codato.

He said so on the fringe of the swearing ceremony of the members of the association of Brazilian businesspeople and managers in Angola.

The source admitted that the Angolan economy was hit by the 2008/2009 world economic and financial crisis, which in his opinion created problems with the reduction of public expenses in 2010.

"This crisis was overcome and in 2011 the country showed a positive growth, being projected for 2012 a an eight percent growth", he said.

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