Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.


•At the end of Q1 2021, Angola's Sovereign Wealth Fund (FSDEA) had USD 2.27 billion (Bn) in own funds, an increase of USD 0.03Bn compared to the end of 2020;
•ANPG announced that it had signed production sharing agreement with ENI and Sonangol for Blocks 27 and 28 in the Namibe basin;
•Brent saw a significant decline over the past week, after peaking at around USD 77.5 - prices were pressured by the lack of agreement between OPEC and the countries associated with the cartel;
•The IMF now expects a very slight downturn in economic activity this year, of 0.1%, due to a 7.0% decrease in the oil economy, and a 2.3% increase in the non-oil economy;
•In fiscal terms, the Fund expects a surplus of 2.2% of GDP this year, due to higher oil tax revenues.

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