UN expert lauds Angola govt’s step in stabilizing macroeconomic situation

The Cameroonian economist, Vera Songwe recently highlighted the work of the economic team of the Government of Angola in the last 18 months that has allowed stabilizing the South African country’s macroeconomic situation.

The Executive Secretary of the United Nations Economic Commission for Africa, Vera Songwe, who also worked the World Bank, spoke to the media that these results encourage the Commission to maintain support for the Government's initiatives, mainly in the financial and energy sectors.

“We know that the energy sector is one of the areas that consume the most financial resources in the country,” Vera Songwe opined, who is making a three-day working visit to Angola.

In this perspective, the United Nations Economic Commission for Africa was interested in working with the Angolan Government to create legislation that would attract the private sector to this segment, thereby reducing energy costs for the public sector.

The diplomat at the United Nations said the objective of the partnership with Angola is to help the country reach good economic development indicators in the short term.

The purpose of the United Nations Economic Commission for Africa is to support member states in the development of macroeconomic policies for the continent, in conjunction with their national development plans.

Vera Songwe’s visit to Angola is about to end on Sunday, May 19.

With inputs from agencies.

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