Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

•The Angolan economy grew 1.2% year-on-year in Q2 2021 - economic activity increased for the first time since Q2 2019;
•In Q3 the non-oil economy is expected to grow at a similar or slightly slower pace, accelerating again in Q4;
•In 1H2021, the current account posted a USD 3.7Bn surplus, a harbinger of the recovery of economic activity;
•We expect the current account balance to total USD 6-7Bn in surplus this year, representing around 9% of GDP;
•At the meeting of the Monetary Policy Committee held last Monday, the BNA decided to keep the various monetary policy instruments unchanged;
•Net International Reserves (NIR) closed September at USD 9.6Bn, representing a decrease of USD 306.6 million compared to August.

Best regards,
BFA

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