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Opinion
Growing inequality clouds Angola’s expanding economy PDF Print E-mail
By Nirit Ben-Ari   
Monday, 20 October 2014 08:06

Angola has one of the world’s fastest growing economies. Its economy grew by 5.1% in 2013. As major public infrastructure investments in energy and transport kick in, its growth is projected to reach 7.9% in 2014 and 8.8% in 2015. Yet, the United Nations Development Programme (UNDP) reports that around 36% of Angolans live below the poverty line and one in every four people is unemployed.
According to the International Monetary Fund (IMF), Angola is a “post conflict country that produces a lot of oil and faces the challenges of both.” Despite being the fifth largest economy in Africa, ordinary Angolans have seen little change in their standard of living. Only 37.8% of country’s 21 million people have access to electricity. While about half of the population has access to safe drinking water, this number falls to 34% in rural areas, says the World Bank. There are few jobs for the unemployed, mostly under 25 years, who make up 60% of the population. What should Angola do to change the current situation? Analysts say the solution is for Angola to diversify its economy, save and invest for the future - especially in skills and infrastructure development - and improve governance.   Add a comment

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