Key Views:

• Plans by Volkswagen to set up vehicle assembly in the country signifies increasing confidence in the country’s automotive industry’s future.
• The automaker will most likely opt for SKD assembly in tapping into the country’s automotive industry by assembling low volumes initially with plans to ramp up production at a later stage.
• Lo

Key View

• At Fitch Solutions, we expect Angola’s current account surplus to narrow from an estimated 4.7% of GDP in 2019 to 1.4% in 2020, before shifting to a deficit of 1.3% in 2021.
• We expect declining oil exports to weigh on Angola's goods trade surplus over the coming years, with risks tilted to the downside, while a dependence on imported

Key View

• At Fitch Solutions, we forecast Angola's inflation rate to slow from an average of 17.1% in 2019 to 16.3% over 2020 and 13.1% over 2021. However, the rate will remain well above the central bank’s single-digit target, chiefly reflecting the kwanza's sharp depreciation.
• We expect the Banco Nacional de Angola to hold its benchmark

Key View

• We have revised down our growth outlook for Angola’s construction industry on the back of our Oil & Gas team’s new forecast for Brent crude, which we expect to average USD60.8/bbl over the medium term, significantly below pre-2014 highs.
• In our view, construction growth in Angola will remain weak over the medium term as the

Key View

• We highlight significant upside risks to Angola’s mining sector growth outlook over the coming years, as the administration under President João Lourenço introduces a number of structural reforms that could spur foreign investment into the sector.
• The diamond sector will continue to dominate the domestic mining industry over the