The consulting firm Capital Economics believes that Angola’s economy will grow by 1.5% this year and enter a recession next year, contracting by 0.5% due to the effects of low oil production and the depreciation of the kwanza.
Angola’s economy will slow down due to the combination of low oil production and the effects of the recent fall of the kwanza in 2024 and 2025,” write the analysts, as quoted by Lusa, in a commentary on the evolution of the Angolan economy.
In the note sent to investors, Capital Economics analysts write that “GDP is expected to expand by only 1.5% this year, followed by a contraction of 0.5% in 2024,” and they acknowledge that “the forecasts are well below analyst consensus, which expects growth of 2.1% and 2.8% for this and the next year.
