23 November 2012

Angola: Nation Continues to Record Exchange Rate, Fiscal Stability

Angola continues to record stability in the exchange rate and fiscal market with controlled inflation rtaes, said Wednesday in Luanda the Angolan National Reserve Bank (BNA) governor, Massano Júnior.

The governor of the BNA was speaking to the press, in the end of the meeting of the Economic Commission of the Cabinet Council, a meeting that was chaired by President José Eduardo dos Santos.

He informed also that the sense of relative tranquillity remains in regard to the objectives that have been defined for the current exercise, mainly in relation to the level of the inflation rate, being that one the main results of the monetary policy.

Massano Júnior explained that in October, the inflation was 0,91 per cent, thus keeping its reduction trend.

In regard to the monetary policy, the BNA top official stated that the institution continues to record a reduction in interest rates in national currency, which is in the neighbourhood of 11% against the 17% of about one year ago, which can stimulate private investment, with the support of the commercial banks.

The BNA governor also informed that the country's liquid international reserves continue to grow, now reaching USD 30 billion, covering about eight months of imports.

He assured that the financial system is stable and that it continues creating conditions to support the growth of the economy in a more active manner.

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