Africa Angola Banking Economy

Angola: IMF suggests measures for economic growth

The boost of Business environment and focus on the diversification of the economy, based on existing resources, investment in human capital in various areas, and the creation of other macroeconomic stability policies were, among others, the measures recommended today, in Luanda, by the representative of the International Monetary Fund (IMF), Max Alier, for the growth of the Angolan economy.

The IMF  official made these recommendations at the end of the presentation of the “IMF Autumn 2017” and “Global and Regional Economic Perspectives for Sub-Saharan Africa”, stressing the need for Angola to continue to focus on agriculture to create agricultural surpluses and the existence of agro-business.

He argued that Angola has significant agricultural potential and that roads should be improved to allow the disposal of products.

Regarding the fishing sector, he said that the country has an immense coast, and in terms of minerals there have been good results, according to the report of the National Plan of Geology (Planageo).

On the inflation, the official said that it is high and contributes negatively to economic growth and that there is an imbalance in the foreign exchange market.

The report presented Monday concludes that sub-Saharan Africa has the least diversification of its economy compared to other regions of the world.

Max Alier argued that the most diversified economy grew more and pointed out that oil producing countries, such as Angola and other countries, are the least diversifying their economy in the continent.

Source: Angop

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: