BFA - Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Annual inflation rose to 23.0% in July, the 9th consecutive month of increase and the highest reading since December 2017;
According to INE data, the unemployment rate rose again in the 2nd quarter, to 32.7%, 0.7pp above Q1 2020 - and 4.0pp above the same period last year;
According to data collected independently by OPEC, Angola produced around 1.17 million barrels per day in July (-15.3% yoy);
In the foreign exchange market, there was a weekly appreciation of the Kwanza against the Dollar (+2.1%), with the Angolan currency trading at USD/AOA 571.4 last Friday.

Best regards,
BFA

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