Angola Economic Update, June 2014

Angola Economic Update, June 2014

Angola's economy decelerated in 2013 due to the weak performance of the oil sector but the non-oil economy expanded rapidly. Similarly, lower oil related export earnings and higher imports narrowed the current account surplus. Enhancing export...

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Bibliographic Details
Main Author:	World Bank
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTING ACCUMULATION OF CAPITAL AGRICULTURAL COMMODITY AGRICULTURAL OUTPUT AGRICULTURE ANNUAL GROWTH ARBITRATION ASSETS AUCTION AUCTION SYSTEM BALANCE OF PAYMENTS BANK ACCOUNTS BANK BRANCHES BANK LIQUIDITY BANK LOANS BANKING SECTOR BENCHMARKING BID BINDING CONSTRAINT BUDGETING CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ACCOUNTS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL STOCK CASH TRANSFER CENTRAL BANK CENTRALIZATION COMMERCIAL BANK COMMERCIAL BANK CREDIT COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES CONSUMER GOODS CONTINGENT LIABILITIES CORE INFLATION CREDIT GROWTH CURRENCY DEPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT SURPLUS CURRENT ACCOUNT SURPLUSES DEBT BURDEN DEBT LEVELS DEBT OVERHANG DEFLATION DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DOMESTIC BANK DOMESTIC BOND DOMESTIC CURRENCY DOMESTIC DEMAND ECONOMIC COMPETITIVENESS ECONOMIC CONDITIONS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC VALUE EMERGING MARKET EMERGING MARKETS EQUITY MARKETS EURO ZONE EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT COMPETITIVENESS EXPORT EARNINGS EXPORT GROWTH EXPORTER EXPORTERS EXPORTS EXPOSURE EXTERNAL DEMAND EXTERNAL FUNDING EXTERNAL SHOCKS FINANCIAL CRISIS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL BALANCES FISCAL BURDEN FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FORECASTS FOREIGN BANK FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTORS FOREIGN MARKETS GDP PER CAPITA GLOBAL ECONOMY GROWTH POTENTIAL GROWTH RATE GROWTH RATES HUMAN CAPITAL IMPORT IMPORT PRICES IMPORTS INCOME INFLATION INFLATION RATE INFLATION RATES INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENT INSTITUTIONAL CAPACITY INSTITUTIONAL INVESTORS INTEREST PAYMENT INTEREST RATE INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTMENT INTERNATIONAL MARKETS INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTING INVESTMENT PROCESS INVESTMENT PROCESSES INVESTMENT PROJECTS INVESTMENT RATE INVESTMENT RATES INVESTMENT SPENDING INVESTOR CONFIDENCE LABOR FORCE LEGAL FRAMEWORK LENDERS LIQUIDITY LOAN LOCAL CURRENCY LONG-TERM LOANS MACROECONOMIC STABILITY MARGINAL COST MIDDLE INCOME COUNTRIES MONETARY FUND MONETARY POLICY MONEY SUPPLY MORAL HAZARD MUNICIPAL INVESTMENT NATIONAL INCOME NATIONAL SAVINGS NET EXPORTS OIL ECONOMY OIL EXPORTERS OIL EXPORTS OIL PRICE OIL PRICES OIL RESERVES OIL REVENUE OPEN MARKET OPEN MARKET OPERATIONS OPPORTUNITY COST POLITICAL STABILITY PORTFOLIO PORTFOLIO CAPITAL PORTFOLIOS POSTWAR PERIOD POVERTY REDUCTION PRICE FLUCTUATIONS PRICE INDEX PRICE INDEXES PRICE INDICES PRIVATE CONSUMPTION PRIVATE INVESTMENT PRIVATE INVESTMENTS PRODUCTIVITY PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SAVINGS PUBLIC SPENDING RAPID GROWTH RATE OF RETURN REAL GDP REAL INVESTMENT REGULATORY FRAMEWORK RESERVE RESERVE REQUIREMENTS RESERVES RETURNS SAVINGS RATE SECONDARY MARKET SECURITIES SLOWDOWN SOVEREIGN DEBT STOCKS STRUCTURAL REFORMS SUPPLY CAPACITY TAX TAX CODES TAX REVENUES TAX SUBSIDIES TAX SYSTEM TAX SYSTEMS TOTAL FACTOR PRODUCTIVITY TRADE BALANCE TRADE POLICIES TRADE VOLATILITY TRADING TRADING PARTNER TRADING PARTNERS TRANSPARENCY TREASURY TREASURY BONDS UNEMPLOYMENT UNEMPLOYMENT RATES WAGES WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2014/06/19794545/angola-economic-update http://hdl.handle.net/10986/19314

Description
Summary:	Angola's economy decelerated in 2013 due to the weak performance of the oil sector but the non-oil economy expanded rapidly. Similarly, lower oil related export earnings and higher imports narrowed the current account surplus. Enhancing export competitiveness and implementing tax related reforms will reduce the co-movement between the current account and the fiscal account balances. Expanded agricultural output and lower food import prices helped curb the inflation rate to a single digit. While the non-oil economy expands, maintaining the observed level of international reserves will help shield the country from potential oil price fluctuations. This economic update analyzes recent economic developments in Angola and situates them in a medium-term global context. It evaluates the implications of macroeconomic trends and policy reforms in terms of the government's stated development objectives.

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