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Angola's non-oil sector to grow 5.1 pct annually: minister

Source: Xinhua   2018-07-04 18:45:42

LUANDA, July 4 (Xinhua) -- Angola's non-oil sector is expected to grow 5.1 percent annually during the 2018-2022 period, State Minister for Economic and Social Development Manuel Nunes Junior said Tuesday.

He made the statement while speaking to domestic entrepreneurs at a public presentation of Angola's National Development Plan.

He explained that agriculture is expected to grow at an annual average rate of 8.9 percent, manufacturing at 5.9 percent, services including tourism at 5.9 percent, fisheries at 4.8 percent and construction at 3.8 percent.

Meanwhile, the oil sector is only expected to grow about 1.8 percent annually.

He said that the private sector is fundamental in increasing national production, creating more jobs, raising people's incomes and quality of life.

The minister also said that the country is striving to be self-sufficient in food production to stop importing food and that macroeconomic stability was among the main objectives.

Angola is a major oil-producing country in Africa, whose economy has been heavily affected by oil prices over the past years.

Editor: Shi Yinglun
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Angola's non-oil sector to grow 5.1 pct annually: minister

Source: Xinhua 2018-07-04 18:45:42

LUANDA, July 4 (Xinhua) -- Angola's non-oil sector is expected to grow 5.1 percent annually during the 2018-2022 period, State Minister for Economic and Social Development Manuel Nunes Junior said Tuesday.

He made the statement while speaking to domestic entrepreneurs at a public presentation of Angola's National Development Plan.

He explained that agriculture is expected to grow at an annual average rate of 8.9 percent, manufacturing at 5.9 percent, services including tourism at 5.9 percent, fisheries at 4.8 percent and construction at 3.8 percent.

Meanwhile, the oil sector is only expected to grow about 1.8 percent annually.

He said that the private sector is fundamental in increasing national production, creating more jobs, raising people's incomes and quality of life.

The minister also said that the country is striving to be self-sufficient in food production to stop importing food and that macroeconomic stability was among the main objectives.

Angola is a major oil-producing country in Africa, whose economy has been heavily affected by oil prices over the past years.

[Editor: huaxia]
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