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Diversifying the Angolan economy: Mário Caetano João highlights the government's commitment to agribusiness

25/04/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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During an interview, the Minister of Economy and Planning (MPE), Mário Caetano João stressed the government's commitment to agribusiness for the process of diversifying the Angolan economy. It went from 57% of participation in Gross Domestic Product (GDP) in 2011 to around 75% in 2022.

The Minister of Economy and Planning (MPE), Mário Caetano João announced that the contribution of agribusiness to GDP has meant that the non-oil sector currently represents 25% of GDP. According to him, progress has been made, although the country remains dependent on income. According to him, “Angola is still a country dependent in terms of tax revenue from the extractive sector (oil, gas and diamonds), because whenever there is a turbulence in international prices, the Treasury feels it and, therefore, it has an impact on the general State budget and the social sector

.”

Mário Caetano João estimates that approximately 66% of the country continues to be dependent on the oil sector and 95% on exports. For him, work is underway to reach the other two indices, in particular the human assets index and the economic vulnerability index.

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