Dundo: Credit to the economy in national currency reached approximately 7.6 billion kwanzas in October of this year. This represents an accumulated variation of 17.36 percent, or 1.4 billion kwanzas in absolute terms. The information was disclosed on Tuesday by Manuel Tiago Dias, the governor of the National Bank of Angola (BNA), after the 126th Monetary Policy Committee (MPC) meeting in Dundo, Lunda-Norte province.
According to Angola Press News Agency, compared to the same period last year, credit to the economy grew by 21.85 percent, or 1.27 billion kwanzas. Credit to the economy refers to the portion of credit granted in national currency directed toward productive economic activity, excluding foreign currency operations.
Dias said that, according to preliminary data, the surplus balance of the goods account decreased by 46.63% in the external sector, falling from 1.01 billion US dollars in September to 539.47 million US dollars in October of this year. He continued that, in cumulative terms, the balance of the goods account reached $12.48 billion, compared to 19.26 billion US dollars recorded in the same period of 2024, representing a 35.21% reduction, or 6.78 billion US dollars.
Dias highlighted that the reduction in the surplus balance of the goods account was due to the combined effect of a 17.03% decrease in the value of exports, amounting to 5.23 billion US dollars, and a 13.50% increase in the value of imports, amounting to 1.55 billion US dollars. Dias said that the stock of international reserves stood at 15.31 billion, corresponding to a coverage level of 7.87 months of imports of goods and services.
He added that for 2025, an inflation rate of 17 percent is projected by the end of the period, with a deviation of plus or minus 0.5 percentage points. For 2026, preliminary projections point to a rate of 13.5 percent. The next CPM meeting will take place in Luanda on January 13 and 14, 2026.
