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Vol 45 No 25

Published 17th December 2004


Angola

Boom boom, China's coming

Production is soaring, prices are up and Luanda is finding new friends

With all the world betting on high oil prices, Angola's post-war economy is set to boom and to boost its soaring trade with China. The Finance Ministry credibly forecasts growth of 16 per cent next year. As usual, the nomenklatura and oil companies will grab most of it, with little trickling down to the people. Next year's budget focuses on construction and more construction, with social spending on education, health and sanitation way below what is needed to cut poverty (AC Vol 45 No 22).

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