Angola Overtakes Kenya in 2024 IMF Growth Outlook
Angola’s economic surge is fueled by a mix of factors, primarily the recovery of its oil sector and significant strides toward diversifying its economy. After a period of decline, the country’s oil production saw a sharp rebound in 2023, with rising global oil prices boosting revenues. However, the Angolan government has also prioritized reducing its reliance on oil by making substantial investments in agriculture, mining, and manufacturing, aiming to build a more balanced and resilient economy.