Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

In the 1st quarter of the year, the Economic Climate Indicator improved by 7 points to -9, still remaining in negative territory;
In 2020, the Industrial Production Index registered a negative average annual variation of 0.5% compared to 2019;
Last Tuesday, OPEC decided to continue to gradually reduce production cuts amid a recovery in the price of oil in international markets;
In international markets, Brent closed the week at USD 71.6, the highest value in the last 2 years;
In 2020, the 5 biggest Angolan banks in terms of assets registered a negative accumulated net result of AOA 333 billion (Bn), influenced by the accumulated losses of AOA 524 Bn registered by BPC.

Best regards,
BFA

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