BFA - Angola Weekly

Dear subscriber [name],

Please find attached Angola´s weekly highlights:

• Total oil production in May stood at 31.4 million barrels, which corresponds to a daily average of 1.01 million barrels (mbd), according to ANPG data;

• Regarding the management of monetary policy, in May, the monetary base in local currency stood at AOA 2.2 Trillion (T), remaining almost unchanged when compared to the same period of the previous year and registering a contraction of 3.7% compared to April, mainly justified by the reduction in excess reserves (-26.9% mom);

• In May, credit to the private sector in the local currency grew to 5.5T, a sharp nominal increase of 24.3% yoy, but much slight when seen in real terms, 4.1% yoy;

• A Financing Agreement was signed between Angola and the World Bank in the amount of USD 250 million to cover the Project for the Creation of Employment Opportunities in Angola.

Best regards,
BFA

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