Angola intends, by 2050, to make the national non-oil sector worth four times more than the oil sector, said in the Minister of State for Economic Coordination in Luanda Yesterday 20th May.
Manuel Nunes Júnior presented the public consultation project of the “Long-Term Strategy Angola – 2050”, which until mid-June will be available to the public for the collection of contributions and improvements to the document.
According to the minister, as the Government reduces its direct participation in financing the economy, it is important that the private sector is encouraged and supported to assume this task.
In the opening speech of the public presentation session, Manuel Nunes Júnior also recalled that the exercise of long-term planning is a complex process, above all, because it involves an uncertain variable, which is the future. However, the Minister of State for Economic Coordination assumed that he had no doubts that “the definition of a long-term strategy for the country is necessary” even given the country’s recent history.
Gross Domestic Product
A piece of data advanced by the Minister of State for Economic Coordination at the meeting was also that the Gross Domestic Product (GDP) will double, the Agriculture and Livestock sectors will grow four times more and that of Industry seven times.
Despite these indicators, Manuel Nunes Júnior recalled that everything will take place under a difficult national and international context, given that, in 2050, Angola projects a population of more than 70 million and maximizes it as a factor of wealth generation.
At the public presentation session of the “Long-Term Strategy Angola – 2050”, representatives of the judiciary, the legislature, members of the Executive, the diplomatic corps, civil society and political parties were present.
The Non-Oil Gross Domestic Product (NP-GDP) will grow 3.3 times, from 84 to 275 billion dollars (USD), by 2050, with an estimated population of 70 million inhabitants, indicate projections of the Angola 2050 Strategic Plan.
The plan officially presented yesterday, called “Angola 2050- Long Term Strategy”, foresees that the Non-Oil Per Capita GDP will increase by around 1.2 times, from the current 3.67 thousand to 4.215 thousand dollars, with the support of non-oil exports, which will grow 13 times more, from US$5,000 to US$64,000 million.
According to the Minister of State for Economic Coordination, Manuel Nunes Júnior, these projections bring about a paradigm shift in the country’s economic and financial system, where non-oil tax revenue is expected to grow by 56 percentage points (56 pp), from 32 to 88 pp.
In this period, GDP, currently at USD 122 billion, should reach USD 286 billion, which represents growth of 2.4 times more and the public debt should see a reduction of 6.0 percentage points, from 66 to 60 percent of GDP.
next 27 years
For the next 27 years, within the framework of Angola 2050, the life expectancy of Angolans will increase by six years, from 62 to 68 years of age, and the mortality rate, between five years, will decrease from 56 pp from 71 to 19 percent. Projections indicate that unemployment will drop 10 points from 30 to 20 percent.
For this purpose, explains the Minister of State, the Angola 2050 Strategy is based on five structural axes, namely “Valuing human capital”, “Strategic development of infrastructures”, Diversifying the economy, promoting a sustainable ecosystem” and “Ensuring a just nation and equal opportunities”.
The process of public consultation of Angola 2050 – Long Term Strategy ends on the 12th of June of the current year, in the province of Zaire, and reserves the 29th of May for the consultation of the Angolan community in the diaspora.
