Angola : Oil, Broad-Based Growth, and Equity
This book points out that the main issues confronting the Angolan authorities in their efforts to consolidate macroeconomic stability on a sustainable basis and in promoting an improvement in the welfare of the Angolan citizens do not seem to diffe...
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/01/8092542/angola-oil-broad-based-growth-equity http://hdl.handle.net/10986/6759 |
| Summary: | This book points out that the main
issues confronting the Angolan authorities in their efforts
to consolidate macroeconomic stability on a sustainable
basis and in promoting an improvement in the welfare of the
Angolan citizens do not seem to differ significantly from
those addressed in the 1990 report. Therefore, in the
current Country Economic Memorandum, the Bank reassesses
some of the key issues that remain relevant nowadays and
that should help the Angolan economy reach a path of
sustainable economic development. The analysis in this
report centers around the following four core issues: (i)
taking stock of socio-economic realities; (ii) the options
available for the management of the country's mineral
wealth without deleterious macroeconomic consequences; (iii)
the main constraints to economic diversification away from
the mineral sectors; and (iv) the challenges and
opportunities to improve the welfare of the population. Each
of these core issues forms the building blocks that provide
an overview of the current situation and a possible solution
to Angola's structural problems in the short to the
medium term. The report thus plays an informative role and
offers policy recommendations. In Chapter 1, the analysis
starts with a brief discussion of socio-economic realities
in the country. In Chapter 2, a comprehensive macroeconomic
assessment is presented highlighting major past features,
the country's constant search for stability, and recent
successes in the macroeconomic front. In Chapter 3, the
report discusses the structure of the petroleum sector, the
future production profile, the size of the oil wealth, and
policy options to manage the revenue windfall. Chapter 4
focuses on the diamond sector, its structure, legal and
fiscal framework, and explores ways in which the sector can
improve its contribution to social development. In Chapter
5, the report assesses the quality of the business
environment and the opportunities to improve the investment
climate. Chapter 6 discusses alternatives to unleash the
potential of the agricultural sector in generating
employment outside of the mineral sectors. Finally in
Chapter 7, the analysis focuses on how to improve the
livelihoods of the poor and of the vulnerable with
recommendations on how to use the mineral wealth to improve
public service delivery targeted to the poor. |
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