By World Bank
As soon as one of many world's biggest staple foodstuff manufacturers, Angola is referred to now as a huge oil exporter - the second one greatest manufacturer in sub-Saharan Africa. Angola can also be the world's fourth greatest manufacturer of tough diamonds when it comes to worth, with the capability to develop into one of many major worldwide diamond manufacturers. as well as oil and diamonds, the rustic is easily endowed with agricultural assets which stay in general untapped. notwithstanding, regardless of the country's major common wealth, a chronic civil conflict, the swift improvement of the oil zone, and the regulations pursued after Independence in 1975 have left the Angolan economic climate in a different scenario, characterised by means of very asymmetric signs of improvement. The Angolan economic climate is now experiencing large oil providence profits which are anticipated to final during the subsequent decade. when you consider that oil rents are to a wide half centred within the public quarter, the query of ways the oil profit can be spent and disbursed throughout current and destiny generations turns into key to any monetary improvement technique. This learn identifies six center components the place a strategic process for the advance of a broad-based progress technique is needed: (i) the unfinished transition to a marketplace economic climate; (ii) macroeconomic administration; (iii) governance and transparency within the administration of the mineral wealth; (iv) the company surroundings; (v) agriculture; and (vi) public provider supply to the negative.
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Additional info for Angola: Oil, Broad-based Growth, and Equity
2. Solucionar Questões Pendentes no Domínio da Governação e Transparência: Uma estratégia sólida para a gestão da riqueza mineral do país exige transparência e uma governação salutar nos sectores do petróleo e dos diamantes para se evitar a procura de ganhos ilícitos e o desperdício (Capítulos 3 e 4). Lidar com conﬂitos de interesse no seio da Sonangol e da Endiama. Prosseguir uma ﬁscalização adequada da Sonangol e da Endiama, por parte do Governo. Separar as actividades da Sonangol e da Endiama como operadoras e como reguladoras nos seus respectivos sectores, mediante a transferência das responsabilidades reguladoras para os ministérios apropriados.
This will allow a comparison of payments made by industry and revenues received by the federal and provincial governments. Audit revenues received by MOF, Cabinda and Zaire; include Sonangol, and clear arrears. Add audit results. Improve accessibility of website. Consider broader media publication. Sonangol to provide data directly to MOF. Publication of Sonangol corporate audits Topical workshops to include civil society. Establish independent public information center Compile and publish legal texts, procedures.
In the face of an overvalued real exchange rate, the country should explore possibilities for reducing agricultural unit costs. The country has a better rainfall than many of its neighbors, has substantially lower yields, and has been cut off from technological advances in new varieties or other areas for decades. The key question, however, is whether productivity gains can be large enough to offset the disadvantages posed by the strong currency and high transportation costs. As there is no clear indication as to what is the actual cost structure of production in Angola, this question can only be answered through a case by case accurate crop budget analysis.
Angola: Oil, Broad-based Growth, and Equity by World Bank