The emergence of the COVID-19 pandemic in the first months of 2020 amplified the symptoms of the economic crisis that the oil-dependent Angolan economy was already undergoing since 2014. Short term prospects for the recovery of the domestic economy are strongly correlated with the global evolution of the pandemic and trends in international oil markets. International oil market volatility is further compounded by global uncertainties surrounding the availability of vaccines to developing countries in the face of the appearance of new and more contagious strains of the COVID-19 virus.
This report presents the main economic impacts of the pandemic on macroeconomic and sectoral performance, as well as on the business base. The study also seeks to examine the effects of the pandemic on employment, consumption behaviour, institutional capacity, poverty and informal activities. It also describes the Angolan government’s response to the COVID-19 crisis, covering health emergency responses, as well as macroeconomic support measures aimed at mitigating socio-economic impacts. The report mainly traces the evolution of COVID-19 impacts and responses in Angola during 2020.
The report is based mainly on the bibliographical survey and analysis of a variety of reports produced by national authorities and international organizations on the impact of COVID-19 on the Angolan economy. In addition, the report draws insights from an exploratory survey of COVID-19 impacts carried out during the second half of November to the first week of December 2020. Forty-eight merchants active across eight business segments operating in two informal sector public markets in the city of Luanda (Golf and Kifica markets) were surveyed.
