Angola’s economy is likely to emerge from recession this year, growing at 0.3% after three years of contraction, and the debt-to-GDP ratio will fall to around 70%, Moody’s Investors Service said.
The debt burden remains vulnerable to further exchange rate depreciation given the stock of foreign-currency and foreign-currency linked debt as well as the risk of fiscal consolidation fatigue, Moody’s said in an emailed statement.
Reforms planned for this year, including the introduction of a value added tax to broaden the non-oil tax base, will further increase the likelihood of fiscal surpluses while oil prices remain around their current levels, Moody’s said.
CENTER FOR AFRICAN STUDIES
Center for Africa Studies (AFRAM) which located in Ankara, is an organization facilitating under the administration of African Affairs Council (AFAC). It makes various researches about Africa to enhance economic and cultural bounds between Africa and Turkey. AFRAM’s publishings has been shared with different institutions as they require to obtain.
Africa Observatory is one the publishing of AFRAM and it has been published each two weeks. It has been delivered to different institutions via e-mail.