Angolan Economy Records 92 Percent Growth in Four Years

[Kwame]

Economy Records 92 Percent Growth in Four Years

3/30/09 7:18 PM

Luanda – Angolan minister of Economy, Manuel Nunes Júnior, said Monday in Luanda that the country’s economy recorded an average growth rate of 9.6 percent between 1989 and 2007 and a 92.4 percent real growth from 2004 to 2007.

Manuel Júnior, who was speaking at the opening of the Angola-Netherlands Economic-Business Forum, stressed that the Angola economy is among the world’s most growing, following the consolidation of the political stability.

According to the minister, the results show that in four years alone, the Gross Domestic Product (GDP) has almost doubled which, he added, is remarkable, as it corresponds to an average annual real growth rate of approximately 17.8 percent.

He stated that Angola has been guaranteeing the national reconstruction and setting steady steps towards the macro-economic stability and development of the basis for a strong economic development.

The minister asserted that the political stability and investments in the rehabilitation and modernisation of the productive infrastructures have been leading to a major flow of goods and people, increase of local and foreign private investment and alteration to the basic structures of the economy.

Mentioning the result of the diversification of the Angolan economy, Manuel Júnior told the Dutch business people that since 2006, the non-oil GDP has been growing at a higher pace than the oil one which, according to him, is a positive sign.

He also mentioned that the national currency (Kwanza) has been stable, playing more effectively its role as a trade and reserve value.

The minister noted that from the period of hyper-inflation of 1996 that reached an accumulated rate of 3,000 percent, the country is recording over the last few years an inflation of about 10 percent (12.2 percent in 2006, 11.79 in 2007 and 12.8 in 2008).

Manuel Junior assured that although affected by the world financial and economic crisis, the Angolan economy will continue to grow in 2009, within an environment of stability and with a rate above three percent (population’s growth rate).

To him, it is fundamental that Angola continues with its poverty and famine fight programme, through the main projects of rehabilitation of infrastructures and foment to the productive activity, coupled with institutional reforms.

AngolaPress

[Die Kapenaar]

Sad that it is benefiting only the richest 1% of the population.

[Kwame]

Hmm.. more exaggerations from Die Kapenaar... nothing out of the ordinary in this thread!

[Matthias Offodile]

Excellent!

1.) Angola and its people desserve it after the decades of blood-drenched trauma imposed by the USA.

2.) And we finally have a NON-ANGLOPHONE (!!) country rising (albeit from a low position, unfortunately)

3.) The country will hopefully reclaim its position that it would have occupied after independence in the next one and half decades ahead.

Very happy for Angola!

[BUTEMBO21]

Originally Posted by Matthias Offodile

Excellent!

1.) Angola and its people desserve it after the decades of blood-drenched trauma imposed by the USA.

2.) And we finally have a NON-ANGLOPHONE (!!) country rising (albeit from a low position, unfortunately)

3.) The country will hopefully reclaim its position that it would have occupied after independence in the next one and half decades ahead.

Very happy for Angola!

Well it looks like the English countries are still ahead and will contrinue to do so.

Anyways, i don't want to satr anything. I'm happy for them too. They deserve it. and good luck to them.

Do you have any idea if they have something like low income housing projects?

[Matthias Offodile]

...Easy to say that they are ahead ...thanks to the USA Angola lost thirty years in development...I won´t enlarge on it here...All I can feel is just utter disdain, to put it mildly!

Otherwiese Angola would be one if not Africa´s wealthiest country by now (low population and exccessively rich...it was one of the few African countries that had DECENTRALISED development at independence...there was more to Angola than just Luanda)...Luanda would ressemble something like Rio or Sao Paulo today but with a lot less poverty...wealth would have spread a looot more equally.

Yes, the USA destroyed it all!

As for the low income housing: they have, why don´t you go and have a peep in the Angola section!

[African Lion]

Thats almost double?
I hope its true but im sceptical. You'd have to grow 25% a year in order to pull that off. It does not matter if the top 1% get it as long as they invest and keep it in the country. In which case we know the inconsiderate and greedy african elite would prefer it in Europe.

[yosef]

wow, congrats. Ive always been very confident that Angola could do great things once it ended the fighting and warfare.
greetings from your Ethiopian brothers

[Alex Roney]

Originally Posted by Matthias Offodile

...Easy to say that they are ahead ...thanks to the USA Angola lost thirty years in development...I won´t enlarge on it here...All I can feel is just utter disdain, to put it mildly!

Otherwiese Angola would be one if not Africa´s wealthiest country by now (low population and exccessively rich...it was one of the few African countries that had DECENTRALISED development at independence...there was more to Angola than just Luanda)...Luanda would ressemble something like Rio or Sao Paulo today but with a lot less poverty...wealth would have spread a looot more equally.

Yes, the USA destroyed it all!

As for the low income housing: they have, why don´t you go and have a peep in the Angola section!

Errr... And the Soviet Union????? Your anti Americanism seems to bring out overt bitterness that borderlines jealousy. Guess that extends to most Anglophone countries. You can still love all that is Francophone without hating on other peoples. But insecurity is pretty rife in the francophone world.

[BUTEMBO21]

Originally Posted by Matthias Offodile

Yes, the USA destroyed it all!

And the Soviets Union was Building it , Right?

[BUTEMBO21]

Originally Posted by Alex Roney

Errr... And the Soviet Union????? Your anti Americanism seems to bring out overt bitterness that borderlines jealousy. Guess that extends to most Anglophone countries. You can still love all that is Francophone without hating on other peoples. But insecurity is pretty rife in the francophone world.

Exactly, what's with the hating?

[Kwame]

Originally Posted by BUTEMBO21

Do you have any idea if they have something like low income housing projects?

Butembo, here's a link to a thread in the Angola forum showing low income developments.

http://www.skyscrapercity.com/showthread.php?t=650320

[Matthias Offodile]

Errr... And the Soviet Union????? Your anti Americanism seems to bring out overt bitterness that borderlines jealousy. Guess that extends to most Anglophone countries. You can still love all that is Francophone without hating on other peoples. But insecurity is pretty rife in the francophone world.

my general dislike towards the States is not ill-founded but I won´t enlarge on it here. It is not the adequate place.

I am happy to see China rise, they only nation that will be able to ever challenge the US. I do hope that I will still witness this moment!

Me jealous of US? That´s a good joke! The only thing that I like about the States are their great private universities, some good films/music, the concept of malls and theme parks, the idea of marketing/branding, cities like Miami, NY, Chicago. ....and this sums it up! But I said this months earlier.

[BUTEMBO21]

Originally Posted by Kwame

Butembo, here's a link to a thread in the Angola forum showing low income developments.

http://www.skyscrapercity.com/showthread.php?t=650320

Now that's what i'm talking about. No one left behind.

[Xusein]

Originally Posted by Alex Roney

Errr... And the Soviet Union????? Your anti Americanism seems to bring out overt bitterness that borderlines jealousy. Guess that extends to most Anglophone countries. You can still love all that is Francophone without hating on other peoples. But insecurity is pretty rife in the francophone world.

I thought Matthias was German.

[Tbite]

Originally Posted by Matthias Offodile

...Easy to say that they are ahead ...thanks to the USA Angola lost thirty years in development...I won´t enlarge on it here...All I can feel is just utter disdain, to put it mildly!

Otherwiese Angola would be one if not Africa´s wealthiest country by now (low population and exccessively rich...it was one of the few African countries that had DECENTRALISED development at independence...there was more to Angola than just Luanda)...Luanda would ressemble something like Rio or Sao Paulo today but with a lot less poverty...wealth would have spread a looot more equally.

Yes, the USA destroyed it all!

As for the low income housing: they have, why don´t you go and have a peep in the Angola section!

Any Country could be one of Africa's Wealthiest.



I can't think of any country without some resource or another.

[abesha]

Originally Posted by Tbite

Any Country could be one of Africa's Wealthiest.



I can't think of any country without some resource or another.

Exactly, all of us have a "what could have been" story about our countries.
Take Ethiopia, Haile Selassie should have put in reforms early in his reign, such as change in land policies, transition to a democracy (and him as head of state), change from feudal to market economy, etc. If that were the case, the chaos that engulfed the country (war with Eritrea, Marxist revolution, etc) would not have happened.
It was the perfect opportunity. In 1945, when Europe was emerging from conflict, he could have positioned Ethiopia to rise alongside western Europe. But no, He really had no excuse to keep things as is, except that he loved the power. After all, Ethiopia was not shackled by colonization so we could have even started our development a full 20 years before the rest of the continent was freed! He finally got a wake up call in the late 60s (coup attempt) and he sort of started some reforms, but it was too late. He'd been in power for decades at that point and people were fed up.
I don't think there's a country on the continent that has wasted opportunities the way Ethiopia has, and all because of a thirst for power.

But there's no need to look back now, it's not like we can change anything. We just need to learn, dust ourselves up and move forward. If he were alive, I'm sure he'd wish he'd done things differently.

[Matthias Offodile]

I thought Matthias was German.

[Matthias Offodile]

Any Country could be one of Africa's Wealthiest.



I can't think of any country without some resource or another.

True ...bust as opposed to Nigeria which only inherited shit from Britain, no roads, no airports barely nothing...everything had to be built nearly from scratch in the 70´s ...Angola had most of it already. same was the case for Zimbabwe or SA...or even Kenya .


if the USA hadn´t desroyed this peaceful country ....due to its high level of decentralised development, Angola would be rubbing shoulders with nations like Malaysia or I might even say a smaller version of Brazil in terms of industrial development (with less inequality, of course!!). Agriculture/agro-industries was top-notch throughout Angola at this time,,,it was not in the hands of some multinationals sucking the country dry and peniless that repatriate the profits what US companies do in Central America but run by local Angolan people, small-scale businesses. Angola didn´t have to import anything...all grew within their borders!!! This has gone to the dogs

Now Angola is inviting over multinational to exploit their country from what I have read. my comment is just. I am sorry, I cannot say anything else..

[Alex Roney]

And the Soviet Union.... Anyways regardless of who and what is to blame I for am tired of all these "what ifs" and "but's" excuses. Bill Gates would say to "shut up and work hard".