ELP – Angola 2050 foresees an economic model based on private sector

The Long-Term Strategy (ELP – Angola 2050) foresees an economic model based on the private sector in order to contribute to the country’s development process, said Tuesday in Luanda the Secretary of State for Planning, Milton Reis.

The official was speaking at a public consultation meeting with entrepreneurs on the completion of the process of Revision and Extension of the Long-Term

Strategy (ELP) 2025 to 2050 (ELP – Angola 2050).

He said that the referred model presents better inter-sector articulation and a rapid adaptation to the changes that may arise during the implementation

of the ELP.

Milton Reis says that the strategy brings a narrative of economic growth supported by facts, where sector priorities are clearly defined, identifying the main drivers of growth and economic impact.

He explained that in 2016 a review of the state of implementation of the Angola 2025 strategy was carried out and it was found that there was leakage in the macroeconomic scenario.

The source blamed the leakage in the macroeconomic scenario on the 2008 crisis that changed the entire scenario that the strategy envisaged.

The strategy foresees that the economy should be supported by non-oil sector, where the weight of agriculture will increase from 12% to 18% by 2050.

The Long-Term Strategy-Angola 2050 is the basic tool for the drafting of the National Development Plan (PDN), which presents the strategic options for the country’s long-term development, being elaborated based on analysis of scenarios, for the national levels, sector and territorial.

The document under discussion predicts that the Non-Oil Gross Domestic Product (GDP-NP) will grow 3.3 times, from 84 to 275 billion dollars (USD), by 2050, with a population of the country estimated at 70 million of inhabitants.

ELP – Angola 2050 also predicts that Non-Oil Per Capita GDP will increase around 1.2 times, from the current USD 3,067 to USD 4.215, with the support of non-oil exports, which are expected to grow 13 times more, going USD 64

billion.

GDP, which currently stands at USD 122 billion, is expected to reach USD 286 billion, representing a growth of 2.4 times more and the Public Debt will experience a reduction of 6%, from 66 to 60 percent over the GDP.

The life expectancy of Angolans for the next 27 years will increase by six years, from 62 to 68 years of age.

The mortality rate will decrease 56%, from 71 to 19%. While unemployment is expected to fall 10% from 30 to 20%.

Source: Angola Press News Agency (APNA)

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