Selected Policy Notes for Incoming Administration of Angola

World Bank Group

World Bank, Washington, DC

关键词: MONETARY POLICY;    EXCHANGE RATES;    FISCAL POLICY;    PUBLIC FINANCIAL MANAGEMENT;    PUBLIC INVESTMENT MANAGEMENT;   

RP-ID  :  124586

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The Angolan economy is at a juncture.The current growth model based on oil wealth is nearlyexhausted,and has not delivered inclusive growth and sharedprosperity. The challenge for the administration is torestore macroeconomic stability and lay the foundations fora new, more inclusive growth model that can support a youngand growing population.Oil and mineral wealth allowed Angolato sustain a long civil conflict and to pay forpost-conflict reconstruction, but it will not allow Angolato reach higher stages on the development ladder.Angolafaces two broad policy challenges that need to be addressedurgently: The growing internal and external imbalancesfollowing the adjustment to lower oil prices pose animmediate challenge of macro stabilization. Prospects ofpersistently low oil prices and diminishing oil reservescall for a new sustainable and inclusive growth model thatpromotes economic diversification. The first priority is torestore macroeconomic stability.Restoring macroeconomicbalance is essential to providing a foundation for long-termsustainable growth.The second priority calls for a new andmore inclusive economic growth model to achieve sustainedgrowth and to further improvements in human development andpoverty outcomes.Sustainable inclusive growth and economicdiversification require strong institutions and a moreconducive environment for greater private sectorparticipation.The new Administration is well aware of thesechallenges and has started to carry-out much neededadjustment.The objective of these Angola Policy Notes,written from the perspective of the World Bank, are tosupport the government in its reform agenda. The 15 concisepolicy notes range from consideration of short-term macrostability to policies in support of economic diversificationand long-term inclusive growth. The policy notes reflect theWorld Bank’s past and current engagement in Angola inseveral sectors, and provide a short diagnostic of thecurrent situation and present policy options for reforms.Recommendations are assessed according to technical andpolitical feasibility of delivering results within a timehorizon of three to five-years.