Standard Bank’s economic studies department believes that Angola is expected to remain in recession this and next year, and may prolong the negative growth until 2023, essentially due to the pandemic of covid-19 and cheap oil.
“In our base forecast we see the recession continuing this and next year as the recovery in exports does not compensate for the negative impact of falling public spending, low private consumption, budget tightening and reduced private investment, “write Standard Bank.
In the most recent report on some African economies, sent to investors and to which Lusa had access, analysts write that “due to both covid-19 and cheap oil, the economy will only temporarily escape the recession in 2022, but the risk to remain in negative growth lasts until 2023 “.
