Angola spends US$100 billion on infrastructure between 2002 and 2015

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Angola spends US$100 billion on infrastructure between 2002 and 2015

8:42 CAT | 02 Nov 2018

The Angolan government spent about US$100 billion on infrastructure construction between 2002 and 2015, the Economy and Planning minister said on Tuesday in Luanda.

Minister Pedro Luís da Fonseca said that despite the large amount of capital invested in infrastructure, such as roads, railways, bridges, schools and hospitals, this was not enough for the country to be able to rise by several places in the Competitiveness Index.

Referring to the National Development Plan (PND) for 2018-2022, presented on Tuesday in Luanda, to the members of the National Assembly, he said the PND corrects the sustainability of the infrastructures so that the country can improve its position on the index in the near future.

Quoted by the Angop news agency, the minister recalled that the human development index already achieved has allowed Angola to rise to the category of middle income country.

Fonseca stressed, however, that it is necessary to adjust public spending to tax revenue, given the country’s financial situation, “to enable Angola to move towards the stability necessary to promote economic growth.

Source: Macauhub