Angola's economy is expected to grow 3.2% this year, and could accelerate to 3.6% in 2024, while expanding at all times below the average for sub-Saharan African countries, according to FocusEconomics.

In its monthly analysis of the sub-Saharan economies, the consulting firm considered that this country will have significant growth in a context of relaxation of the pandemic-related blockades, which propitiates the "rise in domestic demand, while the external sector benefits from high commodity prices.

In the report, this Barcelona-based consulting firm writes that high oil prices and the willingness of European countries to diversify energy sources away from Russian gas are positive for Angola, which also benefits from good external conditions, improving public accounts.

Still, the projected growth of 3.2% for this year, 3.4% for 2023, and 3.6% for 2024 is always below the average forecast for the countries in the region, which are expected to grow by 3.6% this year, 3.7% in 2023, and 3.9% in 2024.

"Sub-Saharan African growth is expected to be near the highest in a decade, except for last year's figure," the analysts write, stressing, however, that risks remain.

"Important risks remain, driven by the consequences of the war in Ukraine; twin [fiscal and external] deficits in some countries are increasing, and debt-to-GDP ratios in the region are being pushed to the highest levels in decades, putting many countries in 'debt distress,'" the report adds.

Analysts estimate that inflation in Angola will rise from 23.3% this year to 15.5% and 10.9% in the next two years, dropping to single digits in 2025, at 9.9%.

Inflation, which fell to 23% in June from 24.4% in May, "should continue to slow in the second half of 2022, although capital outflows and high commodity prices are major risks to this forecast," the analysts conclude.