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Impact of COVID-19 on projected GDP growth in Angola 2020-2021

Economic activity in Angola may contract dramatically in 2020, due to disruptions caused by the coronavirus (COVID-19) outbreak. In June 2020, the Gross Domestic Product growth forecast was revised down, to minus 5.3 percent, considering a worst-case scenario, where the pandemic will persist through December of the same year. Before the virus outbreak, the country’s economy was projected to grow by 2.8 percent in the same year, a first positive result after a continued recession. As of September 2020, Angola cumulated more than 3.9 thousand cases of coronavirus, with 152 registered casualties.

Aside from COVID-19, Angola's economy also suffered the impact of the collapse in global commodity prices. Heavily dependent on the oil sector, the country was challenged by weaker external demand and lower prices. For 2021, an economic recovery is considered and the GDP growth is estimated at 1.2 percent, even with the coronavirus pandemic continuing through December 2020.

Impact of coronavirus (COVID-19) on projected GDP growth in Angola in 2020 and 2021

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Source

Release date

June 2020

Region

Angola

Survey time period

June 2020

Special properties

real GDP growth at market prices

Supplementary notes

Assumptions:
1) Baseline scenario: pandemic subsides in July 2020
2) Worst-case scenario: pandemic continues to December 2020

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