Angola Seeks to Stabilize Oil Production as Economy Recovers: President
Angola Seeks to Stabilize Oil Production as Economy Recovers: President
Angola’s economy is recovering from a period of recession, with real GDP growing by 3% in 2025 and 5.3% in the first quarter of 2026, President João Lourenço said in his state of the nation address.
Key points from Angola’s president:
🟠Oil Production: The government is pursuing measures to maintain oil production above one million barrels per day, aiming to stabilize the sector and strengthen its contribution to the economy.
🟠Economic Recovery: Angola has returned to growth after a period of recession, despite persistent challenges in the oil and gas sector.
🟠Non-Oil Growth: The non-oil sector grew by 6.2% in the first quarter of 2026, while averaging 5.2% annual growth between 2022 and 2025.
🟠Diversification: The growing contribution of non-oil activities highlights the importance of boosting domestic production and reducing dependence on oil.
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