Luanda – Angola has the potential to increase its Gross Domestic Product (GDP) by over 3%, said Thursday in Luanda the Board Chairman of Standard Bank, Luís Teles.
He added that in order to achieve that, it was necessary to speed up investments in infrastructure and improve the execution capacity of planned projects, to ensure that the percentage of GDP rises.
In this way, the manager who was speaking at the “Infrastructure Forum in Angola”, said that the private sector should be more involved because the State does not have the debt and budgetary capacity to carry out all of the necessary projects for the country.
Luís Teles said that it is very important to attract multinational companies, with a lot of experience, aiming to bring the best practices of world leaders, in order to add value to the local dynamic.
Angolan GDP in 2022
In June 2022, the Fitch Solutions consultancy revised its projection for growth of the Angolan economy slightly downwards, from 3.8 to 3.5%, which was above government projections, which estimated growth of gross domestic product (GDP) of 2.7% of the whole year.
Angola´s gross domestic product in 2022 rose at the fastest pace since 2004 as China buys 60.2% of Angola´s exports.
Source: Angola Press News Agency