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Country reportsMay 1 2014

Angola seeks an end to oil dependence

Angola’s impressive post-war development continues apace. But as oil production stagnates, the government is under greater pressure than ever to diversify the economy and create jobs. 
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Angola seeks an end to oil dependence

In one of his rare speeches in October last year, Angolan president José Eduardo dos Santos said he expected the country's economy to grow 5.1% in 2013, well below the government’s target of more than 7%. To his audience of politicians, it was a signal that the oil-rich south-west African country had reached a turning point in its post-war development.

The former Portuguese colony was in a sorry state when it ended a bloody 27-year civil war in 2002. Much of its economy and infrastructure were destroyed and its health and education systems existed in name only.

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