"The real growth of Angola's Gross Domestic Product (GDP) last year was 0.9%, Thibault Lemaire told Lusa, adding that the slowdown compared to 2022 was driven by the decline in oil production and prices.

Asked about the difference between the 0.5% for 2023, presented in the World Economic Outlook report and in the Economic Outlook report for sub-Saharan Africa, released last week, Lemaire explained that the difference results from the update of the forecasts between the time of release of the report and the statements to Lusa, reported this morning.

"We confirm the GDP growth figure last year, 0.9%, and the growth forecast for this year of 2.6%," said the economist, adding that the difference between the reports and the values presented this morning results "from a recent update".

The IMF forecasts growth of 2.6% and 3.1% this year and next in Angola, below the 3.8% and 4% estimated for the sub-Saharan Africa region.

Even so, the Fund forecasts a "gradual recovery in economic activity in 2024, supported by the performance of the oil and non-oil economy, with inflation remaining high this year and gradually decelerating".

In the reports released last week, the Fund forecast that, after a 13.6% increase last year, prices would rise 22% this year and 12.8% in 2025.

In terms of recommendations, the economist responsible for coordinating the report on sub-Saharan Africa, released on Friday, says that "in the short and medium term, budgetary consolidation and reforms in this area are essential to strengthen budgetary and public debt sustainability" and concludes that "accelerating the implementation of structural reforms is essential to ensure macroeconomic stability and promote diversified, resilient and inclusive growth".

In sub-Saharan Africa, growth is expected to increase from an estimated 3.4% in 2023 to 3.8% in 2024 and 4% in 2025, "with the negative effects of climate shocks continuing and supply chain problems gradually improving," says the Fund.

Globally, the IMF has improved the global growth forecast by one tenth to 3.2% this year, a rate it also expects for next year.

The institution led by Kristalina Georgieva forecasts that global growth, estimated at 3.2% in 2023, will continue at the same pace in 2024 and 2025.

The forecast for 2024 was revised up by 0.1 percentage points (pp) compared to the January report and by 0.3 (pp) compared to October last year.

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