Social indicators in Angola contradict economic growth, warns IMF

The resident representative of the International Monetary Fund (IMF) in Angola, Marcos Souto, considers that the country’s social indicators do not reflect its greatness and capacity, including its riches, a paradigm that “needs to be modified”.

The official was speaking to the press at the end of the presentation of the “Report on the Regional Economic Perspectives of Sub-Saharan Africa – Living on the Threshold”, organized by the National Bank of Angola and the IMF.

“Angola is a country that has social indicators that do not match the greatness and capacity that this country has, with its riches and this is a paradigm that needs to be modified”, said Marcos Souto.

The representative of the international financial institution in the country also defended that the Angolan state needs to work so that economic growth does not only benefit “a group of people”, but that it is sustainable and inclusive.

“It is something that has been talked about a lot, sustainable and inclusive growth. In other words, growth that also benefits a large portion, if not the entire Angolan population. For this, measures are needed to promote this diversification, this inclusive economic growth, create job opportunities, improve education and improve health”, he said, recalling that “if there are budget discussions for next year and the next years, it is important that these issues be taken into account”.

Marcos Souto insisted that it is “very important” to invest in inclusive economic growth and diversification, adding that “this will bring support, it will create a virtuous cycle in the sense of having more growth and more diversification”.

With information from Forbes

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