A decade after the end of the Civil War, Angola is one of the world’s growing economies, with an 11% average annual rate of growth (2001 – 2010). Angola is still in a process of reconstruction after 27 years of civil war, which began with the departure of the Portuguese in 1975, and ended with a peace treaty signed between the rival parties in 2002. Since the end of the Civil War, the government of Angola has been making great efforts to rehabilitate the country, by means of:
- Defining orders of priority
- Relaunching manufacturing sectors
- Returning the refugees to their original homes
- Creating constitutional conditions offering advantages and guarantees to foreign investors in different sectors of the economy.
The increase in the prices of commodities around the world (oil and gas) between 2000 and 2008 led to significant growth in Angola’s GNP, a significant part of which is income derived from oil exports (97% of exports, 45% of GNP). GNP per capita in 2002 was $95, and as a result of economic growth, by 2013 GNP per capita was $5900. The decrease in oil prices over the past year has had a significant impact on the Angolan economy, and on government budget balances.