he government
started using a $2 billion line of credit from China to rebuild
Angola's public infrastructure, and several large-scale projects
were completed in 2006. The central bank in 2003 implemented an
exchange rate stabilization program using foreign exchange reserves
to buy kwanzas out of circulation, a policy that was more
sustainable in 2005 because of strong oil export earnings, and has
significantly reduced inflation. Consumer inflation declined from
325% in 2000 to about 13% in 2006, but the stabilization policy
places pressure on international net liquidity. To fully take
advantage of its rich national resources - gold, diamonds, extensive
forests, Atlantic fisheries, and large oil deposits - Angola will
need to continue reforming government policies and to reduce
corruption. The government has made little progress on reforms
recommended by the IMF such as promoting greater transparency in
government spending and continues to be without a formal monitoring
agreement with the institution. Corruption, especially in the
extractive sectors, is a major challenge facing Angola.

GDP (purchasing power parity):
$51.95 billion (2006 est.)

GDP (official exchange rate):
$28.37 billion (2006 est.)

GDP - real growth rate:
14% (2006 est.)

GDP - per capita (PPP):
$4,300 (2006 est.)

GDP - composition by sector:
agriculture: 9.6%
industry: 65.8%
services: 24.6% (2005 est.)

Labor force:
6.393 million (2006 est.)

Labor force - by occupation:
agriculture: 85%
industry and services: 15% (2003 est.)

Unemployment rate:
extensive unemployment and underemployment affecting more than half
the population (2001 est.)

Population below poverty line:
70% (2003 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
13.2% (2006 est.)

Investment (gross fixed):
14.6% of GDP (2006 est.)

Budget:
revenues: $10.98 billion
expenditures: $9.7 billion; including capital expenditures of $963
million (2006 est.)

Public debt:
32.7% of GDP (2006 est.)

Agriculture - products:
bananas, sugarcane, coffee, sisal, corn, cotton, manioc (tapioca),
tobacco, vegetables, plantains; livestock; forest products; fish

Industries:
petroleum; diamonds, iron ore, phosphates, feldspar, bauxite,
uranium, and gold; cement; basic metal products; fish processing;
food