Tourist information about Angola
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Useful information about Angola
Angola Economy
Angola is an economy in disarray because of a quarter century of nearly continuous warfare. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and 90% of exports. Violence continues, millions of land mines remain, and many farmers are reluctant to return to their fields. As a result, much of the country's food must still be imported. To fully take advantage of its rich natural resources - gold, diamonds, extensive forests, Atlantic fisheries, and large oil deposits - Angola will need to end its conflict and continue reforming government policies. Internal strife discourages investment outside of the petroleum sector, which is producing roughly 800,000 barrels of oil per day. While Angola made progress in bringing inflation down further, from over 300% in 2000 to about 110% in 2001, the government has failed to make sufficient progress on reforms recommended by the IMF, such as increasing foreign exchange reserves and promoting greater transparency in government spending. Angola's GDP could be among the world's fastest growing in 2002 if oil production from the Girassol field, which began production in December 2001, reaches 200,000 barrels per day as expected.
