Angola aims to boost its non-oil sector to become four times larger than the oil sector by 2050, as announced by the Minister of State for Economic Coordination in Luanda on Friday.
Manuel Nunes Júnior unveiled the “Angola Long-Term Strategy – 2050” public consultation project, inviting the public to contribute and provide input until June 15.
The minister emphasized the importance of encouraging and supporting the private sector to assume a more significant role in financing the economy as the government reduces its direct involvement.
Gross Domestic Product (GDP)
During the meeting, the Minister of State for Economic Coordination shared additional information regarding the country’s economic growth. It was stated that the Gross Domestic Product (GDP) is projected to double, while the Agriculture and Livestock sectors are expected to grow fourfold, and the Industry sector is anticipated to expand sevenfold.
However, Manuel Nunes Júnior acknowledged the challenges inherent in achieving these goals within a complex national and international context. Angola’s population is projected to exceed 70 million by 2050, and the country aims to harness this demographic dividend to maximize its wealth generation potential.
