Angola expects return to growth in 2020 due to ‘non-oil sector’
Angola’s GDP has contracted for the past three years and is expected to shrink again in 2019
Luanda — Angolan President João Lourenço expects Africa’s second-biggest oil producer to return to growth in 2020 as the government accelerates efforts to diversify an economy battered by a decline in crude prices and output.
“Angola’s economic crisis started in 2014 and got worse, not just because of lower oil prices but because the country is indebted and is honouring its commitments,” Lourenço said in a state of the nation address in parliament on Tuesday. “In 2020, we expect the economy to return to growth due to rising output from the non-oil sector.”..