Angola Economic Update : Boosting Growth with Inclusive Financial Development

Overview & Synopsis

Angola’s economy rebounded strongly in 2024 with a real GDP growth of 4.4 percent, fueled by a revitalized oil sector and robust performance in non-oil industries like mining, commerce, and agriculture. While macroeconomic stability has been maintained, underlying vulnerabilities persist. Looking ahead, growth is projected to average 2.9 percent from 2025 to 2027, which may not be sufficient to significantly uplift living standards. To address poverty and foster inclusive growth, comprehensive reforms are essential—particularly in financial development and inclusion. Limited financial intermediation continues to hinder households and MSMEs, but the financial sector holds promise for mobilizing private capital and advancing broader policy goals.