Fitch expects the economy to grow 2.2% this year

Fitch expects the economy to grow 2.2% this year

Fitch, one of the agencies that classifies sovereign debt risk, admits that the economy could grow by 2.2%, boosted by the increase in oil exports

Although the government has downgraded its expectations for the pace of the Angolan economy this year, the rating agency Fitch, one of the three that classifies the risk of the Angolan sovereign debt, is more moderate in updating its estimates and anticipates that the national economy will grow 2.2% in 2019. Fitch, in its Africa Monitor for April released yesterday and to which OPAIS had access, hopes that the increase in oil exports will lead to a positive economic growth in 2019, albeit slightly below the previously forecast 2.3%.

According to the agency's estimates, the economic growth will have regressed last year (minus 0.83%), returning to a positive record of 2.2% this year, reaching a rate of 2.4% in 2020. The report states that the downward revision of growth estimates for the current year and the next is due to the fall in oil prices in the second quarter of 2018, which were at a lower level than the current one at the time the document was produced.

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