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Country reportsMay 1 2013

Angola: an economy in progress

Angola’s government has won plaudits for its macroeconomic reforms since the 2009 crisis, but plenty more are needed to lure foreign investment and modernise what is still one of the world’s toughest business environments.
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Angola: an economy in progress

The skyline in Luanda seemingly never stops changing. Those who are away from the booming Angolan capital for more than a few weeks have become used to seeing the start of new skyscrapers, hotels or highways on their return.

The frenzied activity in the city reflects what is happening in the wider economy. Since ending a devastating civil war in 2002, Angola has turned itself from a flailing economy with a gross domestic product (GDP) of less than $7bn to one with annual economic output of $110bn. Its economy is now the third biggest in sub-Saharan Africa, after South Africa and Nigeria, and more than twice the size of that of Ghana or Kenya.

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