Angola | Credit to the economy remains sound

Lending to the economy has remained “solid” since the beginning of the year, despite budget restrictions, due to the economic diversification program, Angola’s Minister for the Economy said in Luanda. Abraão Gourgel, who made this statement at the end of a cabinet meeting, said the economic diversification program included adoption of procedures that do not require extensive resources and will eventually lead to a substantial improvement in access to credit. “This program includes actions such as promotion of access to internal and external credit for projects that are accelerating the diversification of the economy,” said the Economy Minister cited by state newspaper Jornal de Angola. The minister said a ministerial technical was developing a model to support the financing of the non-oil industry, a model that is due to be ready this year.