Luanda, Aug 3 (Prensa Latina) The Angolan economy will grow 4.4 percent this year, a figure that represents a decrease compared to the initial prediction of 8.8 percent in the 2013-2017 Development Plan, it was known here today.
According to the Inflation Report for the first quarter of 2015, prepared by the National Bank of Angola (BNA, in Spanish), the latest projections for 2015 reflect a real growth of 4.4 percent of the global gross domestic product (GDP) (below the 4,8 percent registered in 2014).

Such economic progress predictions are made on the basis of 7.8 percent in the oil sector and 2.9 in the non-oil area. The document stipulates that these projections had as budgets an average exchange rate of $ 112.5 dollars/kwanza and with the average price of a barrel of oil at 53 dollars (45.30 percent below the standard value previously stablished).

The inflation rate exceeded nine percent in June, according to the National Statistics Institute. In addition to estimating the GDP growth at market prices will be of 4.4 percent, the BNA report projects a significant change to the actual oil product (7.8 percent), in contrast to the negative variation registered by the sector in the last year (2.6 less).

The remaining sectors show decreasing figures while compared to those of 2014, including energy, which despite a growth rate of 12 percent, recedes 5.2 percentage points compared with the performance recorded in 2014.

The text explains that the data presented by the state-run National Fuel Society of Angola (Sonangol) refer to an average daily production of about 1.802 million barrels by 2015.

That numeral represents a production increase of 7.79 percent compared with 2014, despite the collapse of oil prices in the international market. The non-oil sector, which presented a real growth rate of 8.2 percent in 2014, will grow this year by 2.9.

According to the report, the above mentioned figures are the foundation for the growth expected particularly in the sectors of energy (12 percent) of the processing industry (3.5), construction (3.5) and others (4, 5).

In the case of the domains of fisheries and products, and agriculture presented the greatest reductions in the growth rate, on a scale of 17.1 and 9.4 less percentage points respectively.

The government insists on implementing the program of diversification accordingly, as well as reduce dependence of the economy on the oil sector to make it less vulnerable to external actions, with increased production, lower imports and an increase in exports.

Government data say the oil in Angola represents 97 percent of exports and 80 in tax revenue.