Macroeconomic Forecast Angola

BMI View: We have recently revised upward our average oil price forecast for 2008 to US$96.50/bbl from a previous US$87.50/bbl, for the OPEC basket. Given the dominance of oil in Angola's economy, this has significantly boosted our outlook for the country's current account and fiscal balances. We see the surpluses registering 41.2% and 25.4% of GDP respectively this year.

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