Angola’s draft budget sees 5.5% growth in 2027 if oil is at $71 a barrel
Angola expects its economy will grow about 5.5% next year — similar to this year’s growth rate — if the oil price averages $71 a barrel, a draft budget for 2027 showed on Friday.
By Africa Affairs·
Next year’s growth is expected to be mainly driven by the non-oil sector, which is projected to expand 7.19% in 2027.
The oil sector is seen contracting 3.82%.
The government of Sub-Saharan Africa’s second-biggest crude producer forecasts oil production of about 1.00 million barrels per day (bpd) in 2027, compared with 1.05 million bpd in 2026.
This year’s economic growth was forecast at 5.57% at a mid-year budget review.
The 2027 budget deficit is projected at 3.8% of gross domestic product.
The budget envisages expenditure of 37.3 trillion kwanza ($40.9 billion), while debt service is projected at 43%.
Inflation is expected to ease slightly in 2027, ending the year at 7.27% in annual terms. It stood at 8.43% in September this year.