The Angolan executive expects the country’s economy to record an average real growth rate of 4.01% between 2027 and 2031, according to macroeconomic projections included in the Fiscal Strategy, which states that the expansion will be driven mainly by the non-oil sector, with an estimated average growth rate of 4.59% over the period.
The forecasts, presented in the explanatory report of the State Budget (OGE) for next year, indicate that the main drivers within the non-oil sector are linked to several investment initiatives aimed at increasing national productive capacity, especially in the food industry.
According to the Government, growth in the extraction of diamonds, metallic minerals and other non-metallic minerals is expected to reach 9.53%, supported by increased diamond production, with a target of 16.2 million carats, and by the maturation of the Luele kimberlite project (launched in 2023), with four new secondary alluvial deposits expected to begin production in 2026, which will diversify and strengthen the country’s productive base.
“The introduction of more efficient technologies and the expansion of extraction areas have increased production capacity. Moreover, growing international demand for diamonds and strategic minerals has supported the expansion of exports,” the document states.
Regarding the fisheries sector and its derivatives – another key driver of national economic growth – projections indicate an 8.51% expansion. According to the Executive, this will be largely stimulated by the implementation of the Artisanal Fisheries and Aquaculture Project (AFAP II), financed by IFAD, operating in the provinces of Bengo, Bié, Cuanza Norte, Malanje and Uíge, benefiting more than 31,000 families and reaching around 148,000 people.
Source: O País
