Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The International Monetary Fund (IMF) lowered its growth forecast for the Angolan economy downwards (-2.6pp), expecting a 4% recession in 2020.
The implementation of the Value Added Tax (VAT) generated around AOA 256.16 billion between October 2019 and March 2020;
In June, the Government issued around AOA 116.56 Bn in Treasury Bills; 43.6% below the amount recorded in May.
Banco de Poupança e Crédito announced last week that it will close about 53 branches from July 13th.

Best regards,
BFA

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