The International Monetary Fund (IMF) forecasts Angola’s economy to grow by 2.4% in 2024 and 2.8% in 2025, both below the regional average. According to the IMF’s World Economic Outlook, released during the Annual Meetings in Washington, Angola’s growth will lag behind the sub-Saharan African average of 3.6% in 2024 and 4.2% in 2025, as well as the group of oil-exporting nations, which includes Nigeria and Equatorial Guinea.
Angola, the region’s second-largest oil producer, is expected to trail other oil exporters who are projected to grow by 2.7% in 2024 and 3.2% in 2025. Inflation in Angola is predicted to remain high, at 28.4% in 2024, dropping to 21.3% in 2025, while the regional inflation average is set at 18.1% and 12.3%, respectively.
Among Portuguese-speaking African countries, Cape Verde will experience a slight slowdown, from 5.1% in 2023 to 4.7% in 2024. Guinea-Bissau will maintain steady growth of 5%, and São Tomé and Príncipe is expected to recover from 0.4% in 2023 to 3.3% by 2025. In contrast, Mozambique is predicted to slow from 5.4% in 2023 to 4.3% in the coming years, while Equatorial Guinea faces a projected recession of 4.8% in 2025.