An International Monetary Fund (IMF) team, led by Mika Saito, recently completed a post-financing assessment mission in Angola. The visit to Luanda took place from May 6 to May 12, 2025. This mission aimed to evaluate Angola's economic performance following the country's recovery in 2024, driven by increased oil production and growth in the non-oil sector.
In 2024, Angola's real GDP growth reached 4.4 percent, surpassing earlier forecasts. Despite ongoing inflationary pressures, there was a slight easing of inflation at the beginning of 2025. However, the economic outlook for Angola has worsened since the last Article IV consultation in 2024 due to falling oil prices and tighter external financing conditions.
As a result of these changes, the IMF has revised its preliminary growth projection for Angola in 2025 downwards from an initial estimate of 3 percent to 2.4 percent. Inflation is expected to continue its gradual decline over the year.
The IMF staff acknowledged the Angolan authorities' commitment to addressing emerging risks and implementing measures crucial for maintaining macroeconomic stability and debt sustainability while supporting vulnerable populations and sustaining growth momentum.
The IMF team expressed gratitude towards Angolan authorities for their productive engagement during this assessment period. The findings from Angola’s post-financing assessment are scheduled for discussion at the IMF Executive Board meeting in July 2025.