A vast country with a long coastline and central plateau, Angola thrusts inland across Southern Africa to border Namibia, Botswana, Zambia, and the Democratic Republic of the Congo. Its principal cities, including its capital, Luanda, look west over the South Atlantic to Brazil, another Portuguese-speaking nation like itself.
It has a population of more than A general population census is currently being conducted to gather updated information on the population size. Reforms over the past five years have improved macroeconomic management and public sector governance. Macroeconomic stability has been enhanced through a more flexible exchange rate regime, central bank autonomy, sound monetary policy, and fiscal consolidation. This marks the most significant annual expansion in the past nine years.
The rebound was driven by a recovery in oil production and a robust performance in the services sector, particularly in domestic trade and transport and storage. Despite increased oil revenues, the fiscal situation remains tight.
This has driven a rebound in government revenue following a decline in Consequently, public spending has been constrained, leading to cuts in capital spending and the acceleration of the fuel subsidy reform, despite an escrow agreement with a Chinese creditor that helped alleviate debt service pressure.
In , the exchange rate market has stabilized, with reduced parallel market premiums and a more gradual depreciation compared to Increasing global food prices, a weaker kwanza and fuel price hikes, have kept inflation high, averaging Rising inflation and declining per capita income have strained household purchasing power, especially for the less well-off.
