21 November 2012

Angola: Portuguese Bank Highlights Inflation Relief to Historic Lows in 2011

Lisbon — The slowdown in inflation to historic lows and keeping economic growth at a relatively robust pace with a tendency to speed, marked the recent macroeconomic events, said a report from the Bank of Portugal.

The document, that quotes the "Development of the Economies of the Portuguese-speaking African Countries (PALOP) and East Timor 2011-2012", was released during the "XXII Lisbon Meeting that gathered the Central Banks of the Portuguese-speaking Countries."

As for Angola, the report also added it was clear that a substantial budget and external reinforce was attributed to the gradual recovery of oil revenues and the satisfactory implementation of the adjustment programme supported by the International Monetary Fund (IMF), successfully completed in February 2012.

The document also noted that the Angolan economy has managed to sustain real growth rates relatively robust in recent years, especially taking into account the context of the international crisis.

On the commitment of the Angolan government, the report acknowledges that "the growth of the Angolan economy as a whole, during the period of 2009/2011, was the result of non-oil activities, mainly oriented to domestic demand."

Angola was represented at annual meeting of the Central Banks of the Portuguese Speaking Countries by a delegation led by vice governor of National Reserve Bank of Angola (BNA), António André Lopes.

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