Jason Barton

Professional Information and Energy News

Archive for the ‘Angola’ tag

Rising Angola

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Energy is at the heart of Angola’s situation. Oil is providing a huge boon to their economy, and now the fruits of this growth are being enjoyed by a wider proportion of the population.The investments China is making in Angola are also interesting to note as China sets the stage so that it may become the world’s next superpower.

Oil, glorious oil

The country’s breakneck growth is slowly benefiting the masses

Jan 28th 2010 | LUANDA | From The Economist print edition

AFP

TWO years ago, oil-rich Angola was reckoned to have one of the world’s fastest-growing economies. In both 2006 and 2007 real GDP had surged by around 20%, and double-digit growth rates were widely predicted for at least the next five years. Then oil prices crashed with the global recession. Last year the economy is estimated to have grown, at best, by 1.5%. But it is bouncing back. Some say Angola will be among the world’s top five performers again this year, with growth exceeding 8%.

After four decades of strife, Angola was a basket case. A 14-year war of independence against its former Portuguese masters until 1975 had been followed by nearly three decades of fighting between the communist Popular Movement for the Liberation of Angola (MPLA) and Jonas Savimbi’s pro-Western National Union for the Total Independence of Angola (UNITA) that ended in 2002. Out of a population of 7m in 1980, some 1.5m were killed and more than 4m forced to flee their homes. A whole generation had missed their education. Infrastructure, political institutions and social services had to be rebuilt, often from scratch.

Read the entire article here.

Written by Jason

February 1st, 2010 at 3:55 pm