The Economy of Angola is one of the fastest-growing in the world, with reported annual average GDP growth of 11.1 percent from 2001 to 2010. It is still recovering from 27 years of the civil war that plagued the country from its independence in 1975 to 2002. Despite extensive oil and gas resources, diamonds, hydroelectric potential, and rich agricultural land, Angola remains poor, and a third of the population relies on subsistence agriculture. Since 2002, when the 27-year civil war ended, the nation has worked to repair and improve ravaged infrastructure and weakened political and social institutions. High international oil prices and rising oil production have contributed to the very strong economic growth since 1998, but corruption and public-sector mismanagement remain, particularly in the oil sector, which accounts for over 50 percent of GDP, over 90 percent of export revenue, and over 80 percent of government revenue.
|Economy of Angola|
|Currency||Angolan kwanza (AOA)|
|AU, African Development Bank, SADC, ECCAS, World Bank, IMF, WTO, Group of 77, OPEC|
|−2.6% (2016) −0.1% (2017)|
−1.8% (2018e) 2.9% (2019f)
GDP per capita
GDP per capita rank
GDP by sector
Population below poverty line
|36.6% (2008 est.)|
|42.7 medium (2008)|
|12.51 million (2017 est.)|
Labour force by occupation
|Unemployment||6.6% (2016 est.)|
|petroleum; diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; cement; basic metal products; fish processing; food processing, brewing, tobacco products, sugar; textiles; ship repair|
|Exports||$33.07 billion (2017 est.)|
|crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton|
Main export partners
|Imports||$19.5 billion (2017 est.)|
|machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods|
Main import partners
|−$1.254 billion (2017 est.)|
Gross external debt
|$42.08 billion (31 December 2017 est.)|
|65% of GDP (2017 est.)|
|−6.7% (of GDP) (2017 est.)|
|Revenues||37.02 billion (2017 est.)|
|Expenses||45.44 billion (2017 est.)|
|Economic aid||$383.5 million (1999 est.)|
|$17.29 billion (31 December 2017 est.)|
The Portuguese explorer Diogo Cão reached the Angolan coast in 1484, after which Portugal began to found trading posts and forts along the shore. Paulo Dias de Novais founded Sāo Paulo de Loanda (Luanda) in 1575. São Felipe de Benguella (Benguela) followed in 1587.
The principal early trade was in slaves. Portuguese merchants purchased the slaves from the local Imbangala and Mbundu peoples, notable slave hunters, and sold them to the sugarcane plantations in Brazil. Brazilian ships were frequent visitors to Luanda and Benguela and Angola functioned as a kind of colony of Brazil, with Brazilian Jesuits active in its religious and educational centers.
The Portuguese Empire was neglected during the period of the Iberian Union, which lasted from 1580 to 1640. The Dutch, bitter enemies of their former masters in Spain, invaded many Portuguese overseas possessions. During Portugal's separatist war against Spain, the Dutch occupied Luanda from 1640 to 1648, calling it "Fort Aardenburgh". The Dutch used the territory to supply their own slaves to the sugarcane plantations of Northeastern Brazil (Pernambuco, Olinda, Recife), which they had also seized from Portugal. John Maurice, Prince of Nassau-Siegen, conquered the Portuguese possessions of Saint George del Mina, Saint Thomas, and Luanda, Angola, on the west coast of Africa. Portugal recovered the territory between 1648 and 1650.
In the high plains, the Planalto, the most important native states were Bié and Bailundo, the latter being noted for its production of foodstuffs and rubber. Portugal expanded into their territory, but did not control much of the interior prior to the late 19th century.
The Portuguese started to develop townships, trading posts, logging camps and small processing factories. From 1764 onwards, there was a gradual change from a slave-based society to one based on production for domestic consumption and export. Following the independence of Brazil in 1822, the slave trade was formally abolished in 1836. However it did continue locally into the 20th century. In 1844, Angola's ports were opened to foreign shipping.
By 1850, Luanda was one of the greatest and most developed Portuguese cities in the vast Portuguese Empire outside of Mainland Portugal, full of trading companies, exporting peanut oil, copal, timber, and cocoa. The principal exports of the post-slave economy in the 19th century were rubber, beeswax, and ivory. Maize, tobacco, dried meat and cassava flour also began to be locally produced. Prior to the First World War, exportation of coffee, palm kernels and oil, cattle, leather and hides, and salt fish joined the principal exports, with small quantities of gold and cotton also being produced. Grains, sugar, and rum were also produced for local consumption. The principal imports were foodstuffs, cotton goods, hardware, and British coal. Legislation against foreign traders was implemented in the 1890s. The territory's prosperity, however, continued to depend on plantations worked by labor "indentured" from the interior.
From the 1920s to the 1960s, strong economic growth, abundant natural resources and development of infrastructure, led to the arrival of even more Portuguese settlers. Petroleum was known to exist as early as the mid-19th century, but modern exploitation didn't begin until in 1955. Production began in the Cuanza basin in the 1950s, in the Congo basin in the 1960s, and in the exclave of Cabinda in 1968. The Portuguese government granted operating rights for Block Zero to the Cabinda Gulf Oil Company, a subsidiary of ChevronTexaco, in 1955. Oil production surpassed the exportation of coffee as Angola's largest export in 1973.
|Angolan oil production rates|
|Year||thousand barrels per day||thousand cubic metres per day|
A military-led coup d'état, started on April 25, 1974, in Lisbon, overthrew the Marcelo Caetano government in Portugal, and promised to hand over power to an independent Angolan government. Mobutu Sese Seko, the President of Zaire, met with António de Spínola, the transitional President of Portugal, on September 15, 1974, on Sal island in Cape Verde, crafting a plan to empower Holden Roberto of the National Liberation Front of Angola, Jonas Savimbi of UNITA, and Daniel Chipenda of the MPLA's eastern faction at the expense of MPLA leader Agostinho Neto while retaining the façade of national unity. Mobutu and Spínola wanted to present Chipenda as the MPLA head, Mobutu particularly preferring Chipenda over Neto because Chipenda supported autonomy for Cabinda. The Angolan exclave has immense petroleum reserves estimated at around 300 million tons (~300×109 kg) which Zaire, and thus the Mobutu government, depended on for economic survival. After independence thousands of white Portuguese left, most of them to Portugal and many travelling overland to South Africa. There was an immediate crisis because the indigenous African population lacked the skills and knowledge needed to run the country and maintain its well-developed infrastructure.
The Angolan government created Sonangol, a state-run oil company, in 1976. Two years later Sonangol received the rights to oil exploration and production in all of Angola. After independence from Portugal in 1975, Angola was ravaged by a horrific civil war between 1975 and 2002.
United Nations Angola Verification Mission III and MONUA spent USD1.5 billion overseeing implementation of the Lusaka Protocol, a 1994 peace accord that ultimately failed to end the civil war. The protocol prohibited UNITA from buying foreign arms, a provision the United Nations largely did not enforce, so both sides continued to build up their stockpile. UNITA purchased weapons in 1996 and 1997 from private sources in Albania and Bulgaria, and from Zaire, South Africa, Republic of the Congo, Zambia, Togo, and Burkina Faso. In October 1997 the UN imposed travel sanctions on UNITA leaders, but the UN waited until July 1998 to limit UNITA's exportation of diamonds and freeze UNITA bank accounts. While the U.S. government gave US$250 million to UNITA between 1986 and 1991, UNITA made US$1.72 billion between 1994 and 1999 exporting diamonds, primarily through Zaire to Europe. At the same time the Angolan government received large amounts of weapons from the governments of Belarus, Brazil, Bulgaria, China, and South Africa. While no arms shipment to the government violated the protocol, no country informed the U.N. Register on Conventional Weapons as required.
Despite the increase in civil warfare in late 1998, the economy grew by an estimated 4% in 1999. The government introduced new currency denominations in 1999, including a 1 and 5 kwanza note."Central Bank governor explains arrangements for new currency". BBC Selected Transcripts: Africa. November 10, 1999. Retrieved October 10, 2017.
An economic reform effort was launched in 1998. Angola ranked 160 of 174 nations in the United Nations Human Development Index in 2000. In April 2000 Angola started an International Monetary Fund (IMF) Staff-Monitored Program (SMP). The program formally lapsed in June 2001, but the IMF remains engaged. In this context the Government of Angola has succeeded in unifying exchange rates and has raised fuel, electricity, and water rates. The Commercial Code, telecommunications law, and Foreign Investment Code are being modernized. A privatization effort, prepared with World Bank assistance, has begun with the BCI bank. Nevertheless, a legacy of fiscal mismanagement and corruption persists. The civil war internally displaced 3.8 million people, 32% of the population, by 2001. The security brought about by the 2002 peace settlement has led to the resettlement of 4 million displaced persons, thus resulting in large-scale increases in agriculture production.
Angola produced over 3 million carats (600 kilograms) of diamonds in 2003, and production was expected to grow to 10 million carats (2,000 kilograms) per year by 2007. In 2004 China's Eximbank approved a $2 billion line of credit to Angola to rebuild infrastructure. The economy grew 18% in 2005 and growth was expected to reach 26% in 2006 and stay above 10% for the rest of the decade.
The construction industry is taking advantage of the growing economy, with various housing projects stimulated by the government initiatives for example the Angola Investe program and the Casa Feliz or Meña projects. Not all public construction projects are functional. A case in point: Kilamba Kiaxi, where a whole new satellite town of Luanda, consisting of housing facilities for several hundreds of thousands of people, was completely uninhabited for over four years because of skyrocketing prices, but completely sold out after the government decreased the original price and created mortgage plans at around the election time thus made it affordable for middle-class people. ChevronTexaco started pumping 50 kbbl/d (7.9×103 m3/d) from Block 14 in January 2000, but production decreased to 57 kbbl/d (9.1×103 m3/d) in 2007 due to poor-quality oil. Angola joined the Organization of the Petroleum Exporting Countries on January 1, 2007.
Cabinda Gulf Oil Company found Malange-1, an oil reservoir in Block 14, on August 9, 2007.
Despite its abundant natural resources, output per capita is among the world's lowest. 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. Growth is almost entirely driven by rising oil production which surpassed 1.4 million barrels per day (220×103 m3/d) in late-2005 and which is expected to grow to 2 million barrels per day (320×103 m3/d) by 2007. Control of the oil industry is consolidated in Sonangol Group, a conglomerate owned by the Angolan government. With revenues booming from oil exports, the government has started to implement ambitious development programs to build roads and other basic infrastructure for the nation.
In the last decade of the colonial period, Angola was a major African food exporter but now imports almost all its food. Severe wartime conditions, including extensive planting of landmines throughout the countryside, have brought agricultural activities to a near-standstill. Some efforts to recover have gone forward, however, notably in fisheries. Coffee production, though a fraction of its pre-1975 level, is sufficient for domestic needs and some exports. Expanding oil production is now almost half of GDP and 90% of exports, at 800 thousand barrels per day (130×103 m3/d). Diamonds provided much of the revenue for Jonas Savimbi's UNITA rebellion through illicit trade. Other rich resources await development: gold, forest products, fisheries, iron ore, coffee, and fruits.
|Year||Gross Domestic Product (*$1,000,000)||US Dollar Exchange||Per Capita Income|
(as % of USA)
|1995||5,066||14 Angolan Kwanza||1.58|
|2000||9,135||91,666 Angolan Kwanza||1.96|
|2005||28,860||2,515,452 Angolan Kwanza||4.73|
The following table shows the main economic indicators in 1980–2017. Inflation below 5 % is in green.
(in Bil. US$ PPP)
|GDP per capita
(in US$ PPP)
(in % of GDP)
|1980||20.3||2,273||2.4 %||46.7 %||n/a|
|1981||21.2||2,316||−4.4 %||1.3 %||n/a|
|1982||22.5||2,396||0.0 %||1.8 %||n/a|
|1983||24.4||2,528||4.2 %||1.8 %||n/a|
|1984||26.8||2,705||6.0 %||1.8 %||n/a|
|1985||28.6||2,563||3.5 %||1.8 %||n/a|
|1986||30.0||2,616||2.9 %||1.8 %||n/a|
|1987||32.0||2,721||4.1 %||1.8 %||n/a|
|1988||35.2||2,910||6.1 %||1.8 %||n/a|
|1989||36.5||2,945||0.0 %||1.8 %||n/a|
|1990||36.6||2,873||−3.5 %||1.8 %||n/a|
|1991||38.2||2,912||1.0 %||85.3 %||n/a|
|1992||36.8||2,723||−5.8 %||299.1 %||n/a|
|1993||28.6||2,057||−24.0 %||1,379.5 %||n/a|
|1994||29.6||2,067||1.3 %||949.8 %||n/a|
|1995||34.8||2,357||15.0 %||2,672.2 %||n/a|
|1996||40.2||2,645||13.5 %||4,146.0 %||n/a|
|1997||43.9||2,803||7.3 %||221.9 %||n/a|
|1998||46.5||2,881||4.7 %||107.4 %||n/a|
|1999||48.2||2,899||2.2 %||248.2 %||n/a|
|2000||50.8||2,966||3.1 %||325.0 %||133.9 %|
|2001||54.1||3,066||4.2 %||152.6 %||133.5 %|
|2002||62.4||3,437||13.7 %||108.9 %||73.7 %|
|2003||65.5||3,500||3.0 %||98.2 %||58.0 %|
|2004||74.6||3,872||11.0 %||43.5 %||47.7 %|
|2005||88.5||4,459||15.0 %||23.0 %||33.5 %|
|2006||101.7||4,976||11.5 %||13.3 %||18.7 %|
|2007||119.1||5,655||14.0 %||12.2 %||21.0 %|
|2008||135.0||6,223||11.2 %||12.5 %||31.4 %|
|2009||137.2||6,140||0.9 %||13.7 %||56.2 %|
|2010||145.5||6,323||4.9 %||14.5 %||37.2 %|
|2011||153.7||6,485||3.5 %||13.5 %||29.6 %|
|2012||170.0||6,965||8.5 %||10.3 %||26.7 %|
|2013||181.6||7,222||5.0 %||8.8 %||33.1 %|
|2014||194.0||7,489||4.8 %||7.3 %||39.8 %|
|2015||197.9||7,417||0.9 %||9.2 %||57.1 %|
|2016||194.9||7,086||−2.6 %||30.7 %||75.3 %|
|2017||193.6||6,835||−2.5 %||29.8 %||65.0 %|
Exports in 2004 reached US$10,530,764,911. The vast majority of Angola's exports, 92% in 2004, are petroleum products. US$785 million worth of diamonds, 7.5% of exports, were sold abroad that year. Nearly all of Angola's oil goes to the United States, 526 kbbl/d (83.6×103 m3/d) in 2006, making it the eighth largest supplier of oil to the United States, and to China, 477 kbbl/d (75.8×103 m3/d) in 2006. In the first quarter of 2008, Angola became the main exporter of oil to China. The rest of its petroleum exports go to Europe and Latin America. U.S. companies account for more than half the investment in Angola, with Chevron-Texaco leading the way. The U.S. exports industrial goods and services, primarily oilfield equipment, mining equipment, chemicals, aircraft, and food, to Angola, while principally importing petroleum. Trade between Angola and South Africa exceeded US$300 million in 2007. From the 2000s many Chinese have settled and started up businesses.
Angola produces and exports more petroleum than any other nation in sub-Saharan Africa, surpassing Nigeria in the 2000s. In January 2007 Angola became a member of OPEC. By 2010 production is expected to double the 2006 output level with development of deep-water offshore oil fields. Oil sales generated US$1.71 billion in tax revenue in 2004 and now makes up 80% of the government's budget, a 5% increase from 2003, and 45% of GDP.
Block Zero provides the majority of Angola's crude oil production with 370 kbbl/d (59×103 m3/d) produced annually. The largest fields in Block Zero are Takula (Area A), Numbi (Area A), and Kokongo (Area B). Chevron operates in Block Zero with a 39.2% share. SONANGOL, the state oil company, Total, and Eni own the rest of the block. Chevron also operates Angola's first producing deepwater section, Block 14, with 57 kbbl/d (9.1×103 m3/d).
The United Nations has criticized the Angolan government for using torture, rape, summary executions, arbitrary detention, and disappearances, actions which Angolan government has justified on the need to maintain oil output.
Angola is the third-largest trading partner of the United States in Sub-Saharan Africa, largely because of its petroleum exports. The U.S. imports 7% of its oil from Angola, about three times as much as it imported from Kuwait just prior to the Gulf War in 1991. The U.S. Government has invested US$4 billion in Angola's petroleum sector.
Oil makes up over 90% of Angola's exports.
Angola is the third largest producer of diamonds in Africa and has only explored 40% of the diamond-rich territory within the country, but has had difficulty in attracting foreign investment because of corruption, human rights violations, and diamond smuggling. Production rose by 30% in 2006 and Endiama, the national diamond company of Angola, expects production to increase by 8% in 2007 to 10 million carats annually. The government is trying to attract foreign companies to the provinces of Bié, Malanje and Uíge.
The Angolan government loses $375 million annually from diamond smuggling. In 2003 the government began Operation Brilliant, an anti-smuggling investigation that arrested and deported 250,000 smugglers between 2003 and 2006. Rafael Marques, a journalist and human rights activist, described the diamond industry in his 2006 Angola's Deadly Diamonds report as plagued by "murders, beatings, arbitrary detentions and other human rights violations." Marques called on foreign countries to boycott Angola's "conflict diamonds". In December 2014, the Bureau of International Labor Affairs issued a List of Goods Produced by Child Labor or Forced Labor that classified Angola as one of the major diamond-producing African countries relying on both child labor and forced labor. The U.S. Department of Labor reported that "there is little publicly available information on [Angola's] efforts to enforce child labor law". Diamonds accounted for 1.48% of Angolan exports in 2014.
Under Portuguese rule, Angola began mining iron in 1957, producing 1.2 million tons in 1967 and 6.2 million tons by 1971. In the early 1970s, 70% of Portuguese Angola's iron exports went to Western Europe and Japan. After independence in 1975, the Angolan Civil War (1975–2002) destroyed most of the territory's mining infrastructure. The redevelopment of the Angolan mining industry started in the late 2000s.
Angola LNG is a large national gate (LNG) woah in Soyo, Angola.Angola Stock Exchange
The Angolan Stock Exchange is a proposed stock exchange in Angola. First announced in 2006, the Stock Exchange was hoping to open during the first quarter of the 2008 fiscal year, though in August 2008 Aguinaldo Jaime said that the launch would be "a task for the next government... maybe late 2008 or the beginning of 2009".Due in part to the effects of the credit crunch, the earlier intention for the Angola Stock Exchange to open in early 2009 has been further delayed, with current indications that it was scheduled to open in 2010, with the intention to list 10 companies.
However in July 2013, Archer Mangueira, chairman of the Capital Markets Commission of Angola, said that Angola plans to start the Angola Stock Exchange trading on 2016.On December 19, 2014, the Capital Market in Angola started. BODIVA (Angola Securities and Debt Stock Exchange, in English) received the secondary public debt market, and it is expected to start the corporate debt market by 2015, but the stock market should only be a reality in 2016.Citdex is an American venture capital firm focused on early stage and growth investments has decided to relaunch the stalled project and make an investment in the Angola Stock Exchange.Angolan kwanza
The kwanza (sign: Kz; ISO 4217 code: AOA) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.
The currency derives its name from the Kwanza River (Cuanza, Coanza, Quanza).Belas Shopping
Belas Shopping is the first modern shopping center of Angola, located in the Talatona area of Luanda. Covering an area of almost 120,000 square meters, with a budgeted investment initially of 35 million dollars, it was built by Angolan subsidiary Odebrecht. The official opening was on March 29, 2007, attended by government officials, politicians, entrepreneurs, the press, and others.The mall has eight cinemas, a food court, entertainment area and more than one hundred stores. Around a thousand people were employed in its construction, and since opening it employs about 950 people directly and some 1500 jobs indirectly.Coffee production in Angola
Coffee production in Angola refers to the production of coffee in Angola. Coffee is one of Angola's largest agricultural products.
Angola was the third largest producer of coffee until 1973 while controlled by Portugal.
Angolan coffee was at its pick of excellency of quality during the presidency of Eurico de Azevedo Noronha of the Instituto do Café de Angola, until his death in 1973.Corruption in Angola
The legacy of a 30-year civil war and 20 years of Soviet command economy left Angola in ruins and produced a centralized government with authoritarian tendencies which made possible the ownership of the nation's resources.Endiama
Endiama E.P. (Empresa Nacional de Diamantes E.P.) is the national diamond company of Angola and it is the exclusive concessionary of mining rights in the domain of diamonds. Angola's state-run diamond company Endiama produced 8.55 million carats of diamonds in 2010.Endiama's primary property is Catoca, which is a joint venture between Endiama (32.8%), Russia based ALROSA (32.8%), China based LLI (18%), and Brazil based Odebrecht (16.4%). Catoca is the seventh largest diamond mine in the world, and is estimated to produce over 7 million carats of diamonds in 2014 worth just under $1 billion.Fishing in Angola
Fishing in Angola is mainly performed by foreign fleets. Some of the foreign fishing fleets operating in Angolan waters were required by the government to land a portion of their catch at Angolan ports to increase the local supply of fish. Fishing agreements of this kind were reached with several countries, including with Spain, Japan, and Italy.Forestry in Angola
About 18.4% of Angola is classified as forest and woodland. Angola’s large timber resources include the great Maiombe tropical rain forest in Cabinda. In addition, eucalyptus, pine, and cypress plantations cover 140,000 hectares (346,000 acres). In 2003, roundwood production was estimated at 4,518,000 cu m, and exports amounted to 1,000 cu m.List of regions of Angola by Human Development Index
This is a list of regions of Angola by Human Development Index as of 2017.Mining industry of Angola
Mining in Angola is an activity with great economic potential since the country has one of the largest and most diversified mining resources of Africa. Angola is the third largest producer of diamonds in Africa and has only explored 40% of the diamond-rich territory within the country, but has had difficulty in attracting foreign investment because of corruption, human rights violations, and diamond smuggling. Production rose by 30% in 2006 and Endiama, the national diamond company of Angola, expects production to increase by 8% in 2007 to 10,000,000 carats (2,000 kg) annually. The government is trying to attract foreign companies to the provinces of Bié, Malanje and Uíge. Angola has also historically been a major producer of iron ore.National Bank of Angola
The National Bank of Angola (Portuguese: Banco Nacional de Angola) is the central bank of Angola. It is state-owned and the Government of Angola is the sole shareholder. The bank is based in Luanda, was created in 1926, but traces its ancestry back to 1865. The National Bank of Angola is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.Outline of Angola
The following outline is provided as an overview of and topical guide to Angola:
Angola – country in southern Africa bordered by Namibia on the south, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on the Atlantic Ocean with Luanda as its capital city. The exclave province of Cabinda has borders with the Republic of the Congo and the Democratic Republic of the Congo. The country has vast mineral and petroleum reserves, and its economy has on average grown at a two-digit pace since the 1990s, especially since the end of the civil war. In spite of this, standards of living remain low, and life expectancy and infant mortality rates in Angola are among the worst-ranked in the world.Political economy of oil in Angola
This article discusses the main players in the oil economy in Angola as well as the political economic history of oil dating back to 1955. Angola is approaching middle income status with a GDP per capita of about $4,100. Angola has the second largest oil reserves in Africa; its oil industry is highly modern and sophisticated. Sonangol, the national oil company, is the dominant player in the oil industry. Some argue that Sonangol funds the one-party state's political machine. Outside of the oil industry, the Angolan economy, particularly the private sector and financial system, is largely undeveloped and uncompetitive. Some political scientists have characterized Angola as a "successful failed state" given the country's high levels of oil wealth and low levels of human development and public service delivery.Santoro Finance
Santoro Finance is an Angolan company based in Lisbon, Portugal. Santoro is a holding and was founded by investor Isabel dos Santos, largest shareholder and oldest daughter of the President of Angola José Eduardo dos Santos. Actual President of Santoro Finance is Mario Moreira Leite da Silva; the main seat is on Avenida da Liberdade in the Portuguese capital.Santoro started its financial activities on December 22, 2008. The company provides consulting services for business and management.Santoro holds 19.4% stake in BPI since 2012.UNDP Angola
United Nations Development Programme (UNDP) in Angola is one of the 166 country offices of the United Nations Development Programme’s global network, and is located in the country’s capital Luanda. Its stated objective is to empower people's lives and help nations to become stronger and more resilient. As a part of the wider UNDP’s development efforts, the local office is responsible for the implementation of the Millennium Development Goals in Angola. Specific areas of focus for Angola are poverty reduction, democratic governance, environment and energy, and crisis prevention and recovery. Other development projects target education and HIV/AIDS prevention and treatment.University of National and World Economy
The University of National and World Economy (Bulgarian: Университет за национално и световно стопанство) is a university in Sofia, Bulgaria.
Notable alumni of the university are five Prime Ministers of Bulgaria – Reneta Indzhova, Stefan Sofiyanski, Ivan Kostov, Marin Raykov and Plamen Oresharski; the current chief executive officer of the World Bank and ex-European Commissioner for Budget and Human Resources in the college of the Juncker Commission – Kristalina Georgieva; and the director of the Financial Markets Group at the London School of Economics and ex-Minister of Finance of Bulgaria Simeon Djankov.
Economy of Angola
Currency: Angolan kwanza
States with limited