Angola’s Economic Potential: Problems and Development Prospects Under the Current Conditions of the Global Crisis

DOI

10.2991/aebmr.k.210710.057How to use a DOI?

Keywords

GDP, Sub-Saharan Africa, SADC, importation, exportation, development trends

Abstract

the present article is dedicated to the study of the main internal and external factors, which influences the economic development of Angola. In this work are presents in detail the structural problems and significant advantages of the Angolan economy, taking into account the main changes occurring in the world arena, as well as the historical aspects of development of the countries integration of sub-Saharan African countries. The research work also analyzes the historical factor of integration of the countries that are part of SADC, whose main strategy is oriented towards the structural transformation of economies, greater macroeconomic stability, increasing levels of integration in member countries and the possibility of achieving political and social stability in the region. According to the results presented in the present work, it is observed that Angola has an economy very dependent on the oil industry, which, at present, presents serious problems in its structures. Even with the economic crisis scenario Angola is considered as the third country with the best GDP in Sub-Saharan Africa, thanks to its economic potential. Angola’s GDP grew at a good pace, but with a slight reduction in 2009. Angola’s highest real growth rate was 19.9% in 2005, and the second rate recorded was 16.7% in 2007. Angola despite having a negative value in 2019, according to the IMF study, the medium and long-term economic prospects are optimistic, reflecting on the rapid future growth of the population and a higher rate of urbanization, for in addition to an already large urban population.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Herinelto da Fonseca Josefa Casimiro
AU  - Antonio Manuel Dias Domingos
AU  - Benvindo Vemba Gomes
PY  - 2021
DA  - 2021/07/14
TI  - Angola’s Economic Potential: Problems and Development Prospects Under the Current Conditions of the Global Crisis
BT  - Proceedings of the 3rd International Conference Spatial Development of Territories (SDT 2020)
PB  - Atlantis Press
SP  - 340
EP  - 344
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210710.057
DO  - 10.2991/aebmr.k.210710.057
ID  - Casimiro2021
ER  -