Brazzaville, May 27, 2026 (Lusa) - Angola is expected to register moderate economic growth of 2.9% in 2026, even if driven by rising oil prices, and 3.3% in 2027, according to the African Development Bank (AfDB) African economic outlook released on Tuesday.
The African Economic Outlook 2026 report, presented at the AfDB’s annual meeting in Brazzaville, indicated that Angola's growth would be driven by higher oil prices, investment in agribusiness and logistics along the Lobito Corridor, and around $2 billion (€1.72 billion) in non-diamond and rare earth mining projects.
Growth of 2.9% in 2026 is lower than that recorded in 2025 (3.1%) and that achieved in 2024 (5%), it noted.
The bank’s economists forecast that real per capita Gross Domestic Product (GDP) will decline again due to Angola’s rapidly growing population.
The AfDB also warned that monetary policy may be tightened again to curb inflation resulting from the global rise in oil prices.
Regarding the budget deficit, this is expected to fall to below 3% of GDP between 2026 and 2027, as oil revenues improve fiscal balances, the report said, adding that the debt-to-GDP ratio is expected to remain stable at 48.2%, supported by primary surpluses.
Meanwhile, the current account surplus in 2026, driven by oil exports, is expected to rise to 3.4% of GDP.
The institution noted that volatility in oil prices, tightening global financial conditions, geopolitical tensions, climate shocks, and Angola's oil dependence represent the main risks to Angola’s economy.
Consequently, it argued that Angola had to rely on economic diversification, saying that investment in the Lobito Corridor and mining was essential to mitigate those risks.
The AfDB also warned of the limited capacity to mobilise large-scale financing for inclusive and sustainable development.
To address this situation, Angola has to strengthen debt management, fiscal transparency and financial credibility, mobilise private capital through public-private partnerships, guarantees backed by multilateral development banks, green and blue bonds, remittances from the diaspora exceeding $1 billion annually, and nature-based financing aligned with climate-resilient infrastructure.
In the report "Africa Economic Outlook 2026: Mobilising Large-Scale Development Finance for Africa in a Fragmented World", the AfDB forecasted that Africa’s economic growth is set to slow to 4.2% in 2026, or even to 4% if the conflict in the Middle East persists.
The report was presented on the first day of the Group’s annual meeting, at which representatives from the 81 member countries, including heads of state, finance ministers, planning ministers and central bank governors, including those from Portuguese-speaking African countries (PALOP), reviewed the progress made over 2025 and the major challenges ahead.
The theme of 2026’s meetings is “Mobilising Large-Scale Financing for Africa’s Development in a Fragmented World” and, until Friday, the capital of the Republic of the Congo, Brazzaville, will become Africa’s financial hub, hosting over 3,000 people.
2026’s meetings are being marked by health measures against the Ebola virus, which have been stepped up in Brazzaville, separated from the Democratic Republic of Congo (DR Congo) by a river, and the format of the meetings has been altered, with the Bank adopting a hybrid format, allowing all delegates to participate fully in the proceedings, regardless of travel and logistical conditions.
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