NDP aimed at getting back country’s economy on track

Luanda – The National Development Plan (NDP 2018/2022) is intended to recover the pace of the country’s economy growth registered in 2002/2008 period, said Thursday the Minister of Economy and Planning, Pedro Luis da Fonseca.

The minister made the prediction at the opening ceremony of seminar on “Private Investment” at the 34th Edition of the International Fair of Luanda (FILDA / 2018).

Pedro Luis da Fonseca described NDP as one of the key conditions for private investment.

He noted that the effects on employment, although positive, always depend on a series of aspects related to the characteristics of the provoked or induced-investments.

The official also said that NDP 2018/2022 foresees an increase in the allocation of financial resources to the economic and social sectors, with emphasis on health and education.

On the other hand, he said that the general public services, defence, order and public security will drop, whereas, health and education will increase progressively over the next five years.

This year the Health sector will benefit from 8.53%, in 2019 and 2020 it is predicted an allocation of 12.50%. Therefore, in 2021 and 2022, the percentage value rises to 15 percent.

According to the document, in the education sector, the NDP foresees an allocation of 12.43% (2018), 15% (2019), 17.50% for 2020 and 2021, and 20% (2022).

In order to give sustainability to the programmes related to the diversification of the economy, reduction of imports and promotion of exports, the allocation of resources to the economic sector will also increase progressively, with 16.43% (2018) 19.75% (2019), 20 % (2020) 21.75% (2021) and 22% (2022).

The sector of defence will also see a continuous reduction of resources, with 11.95% (2018), 10% (2019), 8.50% (2020), 7.50% (2021) and 6% (2022).

The same will occur with the public order and security services, which will benefit from an overall value of 9.41% (2018), 9.50% (2019), 9% (2021), 8.50% (2021) and 7% (2022).

Still, the minister said that the necessary investment for the country is the mobilizer of technology and know-how, capable of ensuring conditions to compete in the regional and international market.

The 3rd day of 34th Edition of International Fair of Luanda is dedicated to Angola.

The event gathers 372 exhibitors from 15 countries, an increase of 125 compared to 2017.

Source: Angola Press News Agency