Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The Angolan economy declined by 0.8% yoy in Q3 2019; up to September, economic activity dropped 0.4% yoy;
In Q4, the economy should have dropped harshly;
We expect a slight increase in GDP for 2020, probably below 1%;
Average yearly inflation was 17.3% in 2019, below the 20.2% posted in 2018, and well below the 32.4% in 2016;
In 2019, the Angolan central bank sold USD 9.4 billion in forex to retail banks, 30.2% below the level sold in 2018;
Moreover, BNA has approved legislation to simplify current invisible operations, eliminating the need of previously licensing contracts, and other existing restrictions.

Best regards,
BFA

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