With 189 member countries, staff from more central bank of kenya forex reserves pakistan countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth.
Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. The World Bank Group supports Angola’s efforts to reduce poverty and promote economic growth by working with the government, development partners and civil society. A vast country with a long coastline and central plateau, Angola thrusts inland across Southern Africa to border Namibia, Botswana, Zambia, and the Democratic Republic of the Congo. Angola is struggling with the rebalancing of the global oil market. 2014 has had a significant impact on Angola’s economy. Reduced revenues have caused GDP growth to decelerate from an annual average of 10. It has also adopted an expansionary fiscal policy to boost economic activity, pegged its currency, increased forex sales, and tightened liquidity to contain inflation.
This contained a downward spiral in the short-term but failed to rein in macro imbalances. GDP by the end of 2016, is expected to increase in 2017. Oil production also fell by 5. 2017, due to the challenging operating environment of Sonangol, the state-owned oil company. Despite this, government revenue increased in 2017 due to higher oil prices.