Flash Note nº 7_ 2020

Dear subscriber [name],

We are sending our most recent Flash Note.

Highlights:

• Angolan GDP recorded a year-on-year decline between April and June this year, 8.8% compared to the same period last year. This represents the 4th consecutive quarter of decline in the Angolan economy following drops of 1.9% and 0.6% in the 3rd and 4th quarters of 2019 and a 0.5% fall in Q1 2020;
• One should note that the previous data has undergone a significant revision, revealing a less negative performance than previously thought;
• In the first half of the year, the Executive recorded a AOA 0.6Bn budget surplus, equivalent to about 3.6% of GDP.

Best regards,
BFA

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