africa Angola Banking Economy Finance Government Inflation

Angola Central Bank: economy go through stabilization stage

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Angola is going through a challenging economic crisis caused by the price drop of the crude oil in the international market; however its economy is experiencing a stabilization stage, said on Tuesday in Benguela province the deputy-governor of the National Bank of Angola (BNA), Manuel António Tiago Dias.

The BNA official, who was addressing the opening the ceremony of the 10th meeting of the Portuguese Speaking Countries (CPLP) Central Banks Statistic, admitted that due to the drop of the price of the crude oil since 2014, Angola has experienced a tough situation.

However, added the official, thanks to varied political measures that have been adopted by the Angolan government the country is currently going through a stabilization stage.

Among these measures, the official stressed the economic reform process underway since 2014, which is part of the Macroeconomic Stabilization Plan and the 2017/2022 National Development Plan.

Manuel António Tiago Dias recognized that during the last years the statistic has had higher visibility and usefulness in the face of the continued economic crisis, which the world has undergone since 2008 giving as an example the substantial improvement of the statistic literacy of the Angolan people.

The meeting is being attended by central banks of the CPLP namely Angola, Brazil, Cabo-Verde, Mozambique, Macau, Timor Leste, Portugal and São Tomé and Prince.

Source: Angop

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