Luanda – The increase in domestic production of goods and services is an imperative for the Angolan Government to achieve a strong economy that is less vulnerable to external shocks resulting, essentially, from the volatility of oil prices on the international market.
This statement was made by the Minister of State for Economic Coordination, Manuel Nunes Júnior, while delivering his speech at Angola/Portugal Economic Forum/2023, held Wednesday in the Portuguese city of Porto.
The Angolan official recalled that the country has several programmes underway to step up the increase in national production and diversify the internal economy.
He said that the programme is intended to end Angola's dependence on oil, which represents 95% of export resources and more than 60% of the country's tax revenues. “We want to end this great dependence on oil and build a strong and more sustainable economy in Angola”, he added.
To reinforce the effective achievement of this objective, the Minister of State invited Portuguese businessmen to increase investment in the fertile soils of Angola.
He said that partnerships between Angolan and Portuguese companies in certain sectors could offer good opportunities for both countries, taking leaps to have a good performance in other markets and contribute to the diversification of Angola's exports.
Government works to maintain economic growth
Manuel Nunes Júnior assured that the Angolan government is working to continue on the path of economic growth, so that the country's major social problems can be solved, especially unemployment.
He recalled that for 2023 the Gross Domestic Product (GDP) is expected to grow by 3.3%, with the oil sector growing 3.3% and the non-oil sector growing 3.4 percent.
According to the Minister of State for Economic Coordination, the recovery trend of the Angolan economy was consolidated in 2022, with GDP growth around 3.05%, with the oil and gas sector growing 0.5% and non-oil 3.9%.
He also recalled that after five consecutive years of economic recession, the Angolan economy returned to growth in 2021, with a rate of 1.1%.
The meeting took place Under the motto “We build solid relationships”, the Angola/Portugal Economic Forum/2023 aimed, fundamentally, to make the economic cooperation of the two countries more operational and profound.
The event precedes the official visit of the Prime Minister of Portugal to Angola, scheduled for next June.
Angolan Government was represented by the Minister of State for Economic Coordination, Manuel Nunes Júnior, Minister of Economy and Planning, Mário Caetano João, Secretary of State for Agriculture and Livestock, João Bartolomeu da Cunha, Secretary of State for Finance and Treasury, Ottoniel dos Santos, and by the Chairman of the Board of Directors of AIPEX, Lello Francisco.
On the Portuguese side will be the Minister of Foreign Affairs, João Gomes Cravinho, the Minister of Economy and the Sea, António Costa Silva, and the administrator of AICEP, Luís Rebelo de Sousa.
This is the fourth Economic Forum between Angola and Portugal since 2017, the third being held in March 2019, in Benguela (Angola), on the occasion of the official visit of the President of Portugal, Marcelo Rebelo de Sousa.
