Luanda, Angola – Under the leadership of President João Lourenço, José de Lima Massano, the Minister of State for Economic Coordination, has played a pivotal role in Angola’s economic recovery. His efforts have been instrumental in stabilising the country’s economy and strengthening key sectors such as agriculture, which are vital for Angola’s future.
Inflation Control and Price Stabilisation
In an economic climate where inflation poses a significant challenge, reducing the cost of essential goods has been a top government priority. José de Lima Massano has tirelessly worked to contain inflation, easing the burden on Angolan households during challenging times.
As of October 2024, the annual inflation rate dropped to 29.17%, marking the lowest level in six months. Although still above the government’s target of 23% for the end of the year, the progress reflects a clear improvement and highlights the positive impact of the measures implemented. Long a strain on families, inflation is showing signs of abating.
One of Massano’s key initiatives has been to encourage domestic production, particularly in the food sector. Notable increases in the production of maize, rice, and vegetable oil have reduced reliance on imports, leading to lower prices in local markets. This boost to local production has made essential goods more accessible, directly benefiting Angolan consumers.
The National Budget and Investment Priorities
The 2025 National Budget reflects the government’s continued commitment to economic diversification and investment in priority sectors. With an allocation of 34.63 trillion Kwanzas (approximately €35 billion), the budget represents significant growth compared to the previous year. It underscores the administration’s focus on critical areas such as health, education, and infrastructure.
One standout initiative is the National School Feeding Plan, which allocates 450 billion Kwanzas to ensure daily meals for millions of schoolchildren. This represents one of the largest social support investments in Angola’s history and demonstrates the government’s dedication to alleviating pressures on families.
Additionally, the fiscal deficit for 2025 is projected at 1.65% of GDP. While slightly higher than the previous year, it remains within manageable and sustainable parameters.
Investing in Agriculture and Job Creation
Recognising the critical role of agriculture in economic diversification and job creation, José de Lima Massano has prioritised revitalising this long-neglected sector. Strategic policies have transformed Angola’s agricultural landscape, yielding remarkable results.
During the 2023/2024 farming season, Angola produced 26.9 million tonnes of agricultural goods, a 4.6% increase from the previous year. Staples such as roots and tubers accounted for over 14 million tonnes of this total. This growth not only enhances the country’s food security but also strengthens the trade balance by reducing import dependency.
The government has also heavily invested in transport infrastructure, improving secondary and tertiary roads to facilitate the efficient distribution of agricultural produce. Additionally, financial support for small-scale farmers and large investors has been ramped up, with over 2 million hectares of farmland now in use. As a result, over 350,000 jobs have been created in the agricultural sector, contributing to a reduction in unemployment and improving the livelihoods of thousands of families.
Achievements and Prospects
Signs of Angola’s economic recovery are becoming increasingly evident. In the first half of 2024, the country’s GDP recorded an average growth rate of 4.1%, a level not seen since 2015. This growth was driven primarily by agriculture and manufacturing, sectors that are becoming increasingly central to the national economy.
The National Bank of Angola forecasts an economic growth rate of 4% by the end of 2024. As inflation continues to stabilise, this optimistic outlook is further solidified. Through consistent policies and responsible management, Angola is emerging as a more resilient economy with promising prospects for the years ahead.
A Leader Committed to Angola’s Future
Guided by the firm leadership of President João Lourenço, José de Lima Massano has been at the forefront of policies aimed at building a stronger and more sustainable economy. His clear commitment to Angola’s transformation is evident, not only in his focus on economic stabilisation but also in efforts to diversify the economy and lay the groundwork for a prosperous future.
Under his coordination, agriculture, inflation control, and infrastructure investment have become the pillars of a strategy aimed at building a more self-reliant Angola, prepared to tackle future challenges. His decisive actions reflect the vision of a government committed to progress and the well-being of Angolan families.
José de Lima Massano is undoubtedly one of the principal architects of Angola’s economic stability and sustainable growth. His work is not only securing the present but also laying the foundation for a future of prosperity and economic independence for all Angolans.
