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Harnessing Angola’s Non-Oil Economic Growth: Economic Diversification in Angola
Although Angola has made advances in its diversification efforts, the economy continues to be heavily dependent on crude oil with 94 percent of exports and 60 percent of fiscal revenues being attributable to oil activity. This paper discusses four policy areas which can help foster economic diversification in Angola’s specific context while boosting growth and resilience. The analysis shows that a well-designed package of reforms to (i) improve human capital, (ii) address critical infrastructure needs, (iii) foster a growth friendly business environment, and (iv) enhance access to credit can reduce structural barriers and market bottlenecks in support of Angola’s diversification.
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