(Ecofin Agency) - In Angola, growth should average 3% in 2020 and 2021 thanks to a boost of activities in the non-oil sector, the country’s finance ministry announced this week.

In the past three years, the country was in recession (-2.6% in 2016, -0.1% in 2017 and -1.1% in 2018) because of the fall in oil production. To address these poor performances, the government multiplied its investment diversification programmes.

It indicates that the rising investments in the private sector would reduce Angola’s oil dependence. In the middle-term, the non-oil sector should grow by 3.5% due to "an improvement of the business environment, which will favor private investment." The oil sector, on the other hand, should record a 1.7% growth.

Let’s note that these forecasts align with IMF’s growth estimate, which is 3.2% in the next two years.  

Moutiou Adjibi Nourou