Luanda:Angola's economy experienced a 5% growth, primarily driven by a 6.2% expansion in the non-oil sector, as stated by President Joao Lourenço during his State of the Nation address in Luanda.
According to Angola Press News Agency, President Lourenço detailed that Angola achieved a real GDP growth of 3% year on year in 2025 and in the first quarter of 2026. Between 2022 and 2025, the national economy was impacted by the oil and gas sector, which remains a significant part of the country's economic framework. However, growth in this sector was constrained by mature oilfields, operational challenges, and reduced investment levels. Despite these issues, efforts are being made to sustain oil production above one million barrels per day.
Conversely, the non-oil sector has significantly contributed to the economic boost, with an average growth rate of 5.2% over the past two years, reflecting increased activities across various productive sectors.
On the subject of public finances, President Lourenço highlighted measures undertaken to address fiscal imbalances, review subsidies, manage public debt, and enhance tax collection. These steps are crucial for reinstating the State's capability to undertake public investment projects after a prolonged economic downturn. The public debt-to-GDP ratio notably decreased from 115.9% in 2020 to 51% in 2026, illustrating successful debt management strategies.
