Angolan Economy – An uphill struggle in 2015 – Tiago Dionisio, Chief Economist, Eaglestone Securities

Angolan Economy - An uphill struggle in 2015 - Tiago Dionisio, Chief Economist, Eaglestone Securities

Lower oil prices hit 2014 GDP growth and fiscal accounts Angola is Sub-Saharan Africa's second largest oil producer after Nigeria and its economy remains highly dependent on the oil sector. Official figures show that the oil sector accounted for nearly 37% of the country's GDP, 98% of its total exports and more than two-thirds of government revenues in 2014. As a result, it is no surprise that the rapid fall in oil prices witnessed since mid-2014 has had a profound effect on the overall performance of the country. The impact of lower oil prices has not only hurt the...

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