Bloomberg News

Angola Economy to Grow Estimated 7% in 2012 as Oil Output Gains

February 09, 2012

Feb. 9 (Bloomberg) -- Angola’s economic growth will probably accelerate to about 7 percent this year because of higher oil production, according to the head of Angola’s Catholic University macroeconomic-studies department.

The economy of Africa’s second-biggest crude producer is estimated to have expanded 3 percent in 2011, Manuel Alves da Rocha, a former adviser to the country’s Ministry of Planning, said in a telephone interview today from Lisbon.

The southern African nation has forecast oil production of 1.8 million barrels a day this year, up from an average of 1.65 million barrels in 2011, Planning Minister Ana Dias Lourenco said Jan. 27. The government estimates the economy will expand 12.8 percent in 2012.

--Editors: Gordon Bell, Andrew J. Barden

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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