The Central African oil producer is forecast to experience economic growth of +2.9% in 2022, following five years of recession.
With prices reaching $116 per barrel as of March 23, oil-dependent countries like Angola, which generates 90% of its export revenue from crude oil, have seen their national currencies soar.
The Angolan kwanza has risen by 20% in 2022 alone, owing to a combination of robustbarrel prices, forecast positive economic growth, and rising interest rates from the Central Bank that reached a record 20% last July.
Source: Furtherafrica
