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Angola : Oil, Broad-Based Growth, and Equity

AUDITOR BUSINESS ENVIRONMENT CENTRAL BANK CIVIL SOCIETY CIVIL WAR CIVIL WARS COMMODITY COMMODITY EXPORTS CONSUMER CONSUMER PRICE INDEX CONSUMER PRICE INFLATION COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER CORPORATE SOCIAL RESPONSIBILITY CORRUPTION CORRUPTION PERCEPTION CORRUPTION PERCEPTION INDICES CORRUPTION PERCEPTIONS CORRUPTION PERCEPTIONS INDEX CPI CURRENCY DECENTRALIZATION DEMOCRACY DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DISPUTE RESOLUTION DIVIDEND ECONOMIC DEVELOPMENT ECONOMIC REALITIES EMPLOYMENT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS FINANCE MANAGEMENT FISCAL DEFICITS FISCAL POLICY FISCAL POSITION FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE GOVERNMENT EXPENDITURE GOVERNMENT POLICIES GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT GROSS REVENUE HUMAN DEVELOPMENT INCOME INCOME SOURCES INCOME TAX INCOMES INFLATION INFLATION RATE INFLATION RATES INSTITUTIONAL CAPACITY INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL RESERVES INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT PROGRAM INVESTOR PROTECTION JOINT VENTURES LEADERSHIP LEGAL FRAMEWORK LEGISLATION LIVING STANDARDS MACROECONOMIC MANAGEMENT MACROECONOMIC PERFORMANCE MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MARKET ECONOMY MINISTER MINISTERS MONETARY FUND MONEY CREATION NATURAL RESOURCE NATURAL RESOURCES OIL PRICE OIL RESERVES OPEN ECONOMY OUTPUT POLITICAL RISKS PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR INVESTMENT PRODUCTIVE INVESTMENTS PRODUCTIVITY PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC SERVICE DELIVERY PUBLIC SERVICES RATE OF INFLATION REGIONAL INTEGRATION RESERVES RESOURCE MANAGEMENT RESUME SAVINGS SENIOR SETTLEMENT SOCIAL ISSUES SOCIAL SERVICES STAKEHOLDERS STATE INTERVENTION SUB-SAHARAN AFRICA SUBSIDIARY SUSTAINABLE DEVELOPMENT TAX TOTAL COSTS TRANSACTION TRANSPARENCY TRANSPARENCY INITIATIVE URBAN ECONOMY VALUABLE WORLD MARKET
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Washington, DC: World Bank
Africa | Angola
2012-05-31T18:00:07Z | 2012-05-31T18:00:07Z | 2007

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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