Angola May Become Africa's 4th Biggest Economy

Angola can become the fourth largest economy in Africa

Last updated on September 11th, 2021 at 02:38 pm

According to forecasts from the Institute for Studies and Security (ISS), based in Pretoria , South Africa, Angola could become the fourth largest economy in Africa before 2050.

During the aforementioned time the nation will have a nominal GDP of USD 994 billion behind Nigeria, South Africa and Egypt, according to the ISS report.

The study points out that Angola may surpass Morocco and Algeria, if it overcomes challenges related to good governance, access to quality infrastructure, education and primary health care.

Drawn up last March, without taking into account the economic repercussions of Covid-19, the report states that Angola is currently the fourth largest low-income economy in Africa, but may surpass Morocco and Algeria by 2040 until 2030.

According to the document, which makes an integrated evaluation of how the different sectors (economy, infrastructure , energy, demographics, agriculture and health) may develop until 2050, this growth begins in this decade, with an average annual rate 4.6 percent.