Angola economic news 2019

Here are some key economic news and developments from Angola in 2019:

Oil and Gas Sector:

• Angola's oil production continued to decline in 2019, with average daily production of 1.34 million barrels per day (mb/d), down from 1.78 mb/d in 2018. (Source: OPEC)
• The country's oil exports also decreased, with a total of 1.23 billion barrels exported in 2019, down from 1.43 billion barrels in 2018. (Source: Angola's Ministry of Petroleum)
• The government launched a new oil and gas exploration licensing round in October 2019, aiming to attract foreign investment and increase production. (Source: Angola Press)

Economic Growth:

• Angola's economy grew by 2.1% in 2019, driven by a recovery in the oil sector and growth in non-oil sectors such as agriculture and construction. (Source: International Monetary Fund)
• The country's GDP per capita increased to $4,340 in 2019, up from $4,140 in 2018. (Source: World Bank)

Infrastructure Development:

• Angola launched a major infrastructure development project in 2019, aimed at improving the country's transportation network and increasing connectivity. The project includes the construction of new roads, bridges, and railways. (Source: Angola Press)
• The government also launched a program to improve the country's energy infrastructure, including the construction of new power plants and transmission lines. (Source: Angola's Ministry of Energy and Water)

Fiscal Policy:

• Angola's government implemented a number of fiscal reforms in 2019, aimed at reducing the country's fiscal deficit and increasing revenue. The reforms included the introduction of a new value-added tax (VAT) and the increase of taxes on certain goods and services. (Source: Angola's Ministry of Finance)
• The government also launched a program to improve the country's tax administration and reduce tax evasion. (Source: Angola's Ministry of Finance)

External Debt:

• Angola's external debt increased to $43.4 billion in 2019, up from $38.4 billion in 2018. The country's debt-to-GDP ratio stood at 44.6% in 2019, up from 41.4% in 2018. (Source: International Monetary Fund)

Currency:

• The Angolan kwanza (AOA) depreciated against the US dollar in 2019, with the exchange rate reaching a low of 1 AOA = 0.015 USD in December 2019. (Source: XE.com)

Other Developments:

• Angola's government launched a program to promote entrepreneurship and small business development in 2019, aimed at reducing unemployment and increasing economic growth. (Source: Angola's Ministry of Economy and Planning)
• The country also hosted several international events in 2019, including the Africa Oil Week and the Angola International Trade Fair, aimed at promoting investment and trade. (Source: Angola Press)

Overall, 2019 was a mixed year for Angola's economy, with some positive developments in the oil and gas sector and infrastructure development, but also challenges related to the country's high debt levels and currency depreciation.