The unemployment rate should post a historic maxi-
mum of 26.5% (24.9% in 2012).
Situation in Angola
Figures recently published by the IMF indicate 6.8% gro-
wth of the Angolan economy in 2012 and a forecasted
slowdown in 2013 (5.5%).
Performance was off initial expectations (9.7%), nega-
tively impacted by internal factors (drought affecting
agricultural production and postponed production of
liquid natural gas) and external factors (worsening euro
crisis and slow recovery of the American economy).
In March 2012 the Stand-By Agreement (SBA) signed by
the IMF in 2009 was concluded. It had enabled achieve-
ment of a more stable macroeconomic position during
the three years it was in force.
Despite very evident progress, Angola still faces a num-
ber of challenges in managing public finance, reinvigo-
rating agriculture, industrializing the economy and lo-
wering the poverty level.
The main sectors driving the non-oil economy will con-
tinue to be construction, energy and transports, which
will benefit from increased public investment.
In the oil sector a daily production is forecast to rise
from 1.6 to 1.8 million barrels.
Angola is now in a transition phase toward a more di-
versified economy, which will reduce the vulnerability
deriving from excessive dependence on the oil sector.
ECONOMIC CONTEXT
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