Angola loses 60,000 jobs in the past one year

The inflation rate, which officially stood at 26 percent in the past 12 months, would help Angola to export more of its oil, diamonds, farming products and construction materials.

However, the country needed to re-establish a stable supply of foreign currencies to buy raw materials and equipments for the industrial sector, the chairman said.

He called on the Angolan government to put in place stricter control and management over the shrinking foreign currency reserves and to re-establish a direct link between commercial banks and enterprises to channel more foreign currencies to the industrial sector.

source : xinhua