Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The Industrial Production Index (IPI) for the 1st Quarter 2023 recorded a year-on-year drop of 5.9%, due to the 8.1% contraction in oil production, which represents 85% of the index.
In Q1 2023, the Consumer Confidence Indicator (ICC) grew compared to the same period last year, despite the quarterly drop.
The monetary base (M0) in local currency, operational variable of the monetary policy, in May, fell 12.45% yoy to 1.5 trillion.
Fitch Ratings has revised the outlook on Angola's long-term default rating to stable.

Best regards,
BFA

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