Trade feeds two-thirds of informal economy

Luanda – About two-thirds of the informal economy in Angola is derived from commercial activity, whose products come from domestic and foreign production, said Monday the director of studies of the Ministry of Finance, Osvaldo JoAPound o.

The official made this statement when lecturing on the theme “Public investment policies, and the fight against informality in sub-Saharan Africa”, which was part of the opening session of the round table on informal economy in Luanda.

According to Osvaldo JoAPound o, the progress in the agricultural and industrial sectors has not been enough to significantly reduce the weight of the informal economy in Angola.

The official said to be in non-oil production where the informal economy predominates.

He said that the Angolan economy has faced the consequences of the public debt and if the necessary reforms are not implemented the future will be more challenging, since the public debt went from 34, 2 million dollars in 2012 to 75 million dollars in 2017.

Among the topics discussed in the round table are the importance of the informal sector in sub-Saharan African countries, informality and the labor market in Angola, characteristics of informality in Angola, professional qualification, tertiarization and reduction of informality.

The meeting an initiative of the Sagrada Esperanca Foundation ends thisTuesday.

Source: Angola Press News Agency