Luanda - The Angolan economy, in 2022, registered a growth of 2.9% in its Gross Domestic Product (GDP), with the decline in inflation from 27 to 13% and the improvement of the business environment, which are attractive factors for investing in Angola.
Concurrently with the oil sector, the evolution of the non-oil sector, namely transport and storage (+0.49 p.p.), financial and insurance intermediation (+0.36 p.p.) and trade (+0.32 p.p.), not considering the weight of public administration, defense and social security.
According to the report presenting the results of the 2022 balance sheet of Banco de Fomento Angola (BFA), to which ANGOP had access, despite the adversities and challenges of the global macroeconomic context, Angola presents favourable prospects.
In this perspective, the 2.9% increase in GDP for total assets also resulted from the 30.5% growth in the value of the headings for investments in Central Banks and Collective Investment Organizations (OICs) by more than 169.7 thousand million (+165 billion kwanzas and loans to customers by 18.3% (+64.5 billion kwanzas, which offset the 13.9% decrease seen in the securities portfolio (-169.6 billion kwanzas.
Likewise, it contributes to this better macroeconomic environment, favourable to the exchange rate appreciation of the national currency, which translated into a lower counter-value in kwanzas of exposures denominated in foreign currency, which had a negative impact on the evolution of total assets in the order of 115.6 billion kwanzas.
The report informs that credit granted to customers, net of impairments, amounted to 417.4 billion kwanzas which represents an increase of 18.3% over the real economy.
Total loans to customers (including off-balance sheet loans) stood at 589.6 billion kwanzas, around 11.4% growth.
This evolution of credit, clarifies the balance sheet, made it possible to overcome the negative exchange rate impact, as well as the effective reduction of the loan portfolio granted.
