AfDB Sees Angola’s Growth Accelerating as Economic Reforms Boost Stability and Investment
Angola’s economy is showing renewed strength, with growth accelerating on the back of structural reforms, higher investment and improved macroeconomic stability, according to the African Development Bank’s latest Economic Outlook for the country.
The report highlights Angola’s continued progress in reducing its dependence on oil revenues while strengthening its fiscal position and creating conditions for more diversified economic growth.
Despite global economic uncertainties and fluctuations in commodity markets, the country has maintained a positive growth trajectory, supported by expanding activity in non-oil sectors.
Economic growth was driven by stronger performance in agriculture, services and industry, reflecting the government’s ongoing efforts to broaden the country’s productive base.
Investments in infrastructure, energy and transport have also contributed to economic activity, while reforms aimed at improving the business environment have helped attract private-sector participation.
The African Development Bank notes that inflationary pressures have gradually eased as monetary authorities maintained prudent policies designed to stabilize prices and strengthen confidence in the national currency.
Improved macroeconomic management has supported economic resilience and created a more predictable environment for investors.
Public finances have also continued to improve, benefiting from fiscal consolidation measures and efforts to strengthen revenue collection.
The report suggests that Angola has made important progress in managing its debt burden while improving the sustainability of public finances.
However, significant challenges remain. The country continues to face elevated poverty levels, unemployment and income inequality, highlighting the need for stronger inclusive growth policies.
Expanding employment opportunities, particularly for young people, remains a critical priority if the benefits of economic growth are to be shared more broadly across society.
Looking ahead, the African Development Bank expects Angola’s economic outlook to remain positive, supported by continued reforms, investment in productive sectors and efforts to strengthen economic diversification. The institution believes that reducing dependence on oil exports will be essential to building long-term resilience and sustaining growth.
The report also identifies development financing as a key priority. Mobilizing greater domestic resources, attracting private investment and expanding access to international financing will be crucial for funding infrastructure development and supporting Angola’s broader economic transformation agenda.
According to the Bank, strengthening governance, improving institutional effectiveness and accelerating reforms aimed at enhancing competitiveness will be fundamental to unlocking Angola’s full economic potential and creating a more diversified and sustainable growth model.
