Central Bank of Angola Confident of Reaching Inflation Goal for 2013



According to deputy Governor Antonio Andre Lopes , Angola's central bank is "perfectly convinced" that the country can meet its goal of ending 2013 with inflation at 9 percent,.

Angola, which is Africa's biggest oil producer after Nigeria, has earned praise from global lending and rating agencies for cutting inflation to single digits from around 15 per cent in early 2011.

"The main macroeconomic indicators have been in line with our financial planning and so we are perfectly convinced that the goal will be reached," Andre Lopes told Reuters on Thursday.

He said that Angola, which imports over three-quarters of the goods it consumes, had not been affected by trends in international prices.

This has also contributed to the central bank's confidence about its inflation target.

The government said in its draft budget bill last week that it expected inflation to remain between seven and nine per cent next year. (Reuters/NAN)