[2019-01-10] World Bank forecasts economic growth of 2.9% in 2019 for Angola

Source: Macauhub

Angola is expected to post economic growth of 2.9% in 2019, up 0.7 percentage points from the June 2018 forecast, the World Bank said on Wednesday.

In the Global Economic Prospects, published in Washington, World Bank analysts project a negative change of 3.5 percentage points in 2018, now projecting that the Angolan economy has contracted 1.8%.

By 2020, the World Bank expects that Angola will see economic growth of 2.8%, an increase of 0.2 percentage points both in relation to the previous year’s growth and the forecast made in June 2018.

Cabo Verde (Cape Verde) is expected to grow 4.9% this year, up 0.7 percentage points from June 2018, with economic growth last year expected to be 4.5%, an increase of 0.3 points on the previous forecast.

In the case of Guinea-Bissau, all forecasts are down on those made in June 2018, with the country’s economy expected to grow by 3.9% this year, down by 1.2 percentage points, and in 2019 to grow at a rate of 4.4% or 1.0 percentage points less than the previous forecast.

Mozambique is relatively stable with a forecast of 3.3% for 2018, the same as the forecast put forward in June of that year, and 3.5% for this year, with a positive change of 0.1 percentage points compared to the forecast made in June last year.

Timor-Leste (East Timor) is in a similar position to Guinea-Bissau, with economic growth forecasts of economic falling compared to June 2018.

By 2018 the World Bank projects that the country will see economic growth of 0.8%, a contraction of 1.4 percentage points compared to the previous forecast and that this year it will grow 3.3%, down by 0.9 percentage points.

The World Bank also revised Brazil’s economic growth forecasts downward, by 1.2 percentage points to 1.2% in 2018 and 0.3 percentage points to 2.2% this year.