Angola Economy to Grow Estimated 7% in 2012 as Oil Output Gains

Angola’s economic growth will probably accelerate to about 7 percent this year because of higher oil production, according to the head of Angola’s Catholic University macroeconomic-studies department.

The economy of Africa’s second-biggest crude producer is estimated to have expanded 3 percent in 2011, Manuel Alves da Rocha, a former adviser to the country’s Ministry of Planning, said in a telephone interview today from Lisbon.

The southern African nation has forecast oil production of 1.8 million barrels a day this year, up from an average of 1.65 million barrels in 2011, Planning Minister Ana Dias Lourenco said Jan. 27. The government estimates the economy will expand 12.8 percent in 2012.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.