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2013 increase in Angola infrastructure budget
2014 Angola budget
Just a decade ago, Angola’s infrastructure was almost totally destroyed after a protracted civil war. The country has enjoyed ultra-rapid growth since then, and was the world’s fastest growing economy between 2001 and 2010.
Despite an ambitious investment programme, infrastructure renewal hasn’t kept pace with burgeoning domestic demand. Dense traffic flows and high congestion levels in Angola’s main cities are just one indication that infrastructure remains underdeveloped.
The government has the will and the resources to address these problems. It is now accelerating infrastructure renewal. A third of the 2014 Angolan budget – over $18 billion – targets infrastructure and social projects.
With large oil reserves at its disposal, Angola has the ability to address structural issues, rebuild its infrastructure, expand the economy, modernise cities and improve transport links. It is doing all of these things. And there is also substantial capital for an ambitious public expenditure plan to diversify the economy and reduce its reliance on oil.