2 February 2013

Angola: Economy On Track - Specialist

Luena — The Angolan economist Guimarães Pinto Luís said Saturday in Luena, eastern Moxico province, that the country's economy is recording steady growth, judging by the control of a nine percent inflation rate.

Speaking to Angop on the introduction of the new serial numbers of the Angolan currency (Kwanza), the economist said this is the result of the economic growth of the country, which ensures more durability, security and quality.

The specialist who holds a master's degree from the United State's UNINI University, recalled that the country managed to reach the nine percent inflation rate in 2012 which, according to him, is an unprecedented feat in independent Angola.

He also stated that judging by the pace of economic development at which Angola is moving, soon the country will switch from growth to development and thus elevate more and more the living standards of the populations.

While admitting that keeping the inflation level unchanged does not lead to growth, said however it will help the people's purchasing power to improve and elevate the living standards.

The Angolan Government recently formerly released into the market new bank notes in the face values of Akz 5,000 and 10,000, a measure the specialist welcomed.

Copyright © 2013 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.