A report by Nirit Ben-Ari om the increasing inequality in Angola
Angola has one of the world’s fastest growing economies. Its economy
grew by 5.1% in 2013. As major public infrastructure investments in
energy and transport kick in, its growth is projected to reach 7.9% in
2014 and 8.8% in 2015. Yet, the United Nations Development Programme
(UNDP) reports that around 36% of Angolans live below the poverty line
and one in every four people is unemployed.
According to the International Monetary Fund (IMF), Angola is a “post
conflict country that produces a lot of oil and faces the challenges of
both.” Despite being the fifth largest economy in Africa, ordinary
Angolans have seen little change in their standard of living. Only 37.8%
of country’s 21 million people have access to electricity. While about
half of the population has access to safe drinking water, this number
falls to 34% in rural areas, says the World Bank. There are few jobs for
the unemployed, mostly under 25 years, who make up 60% of the
population. What should Angola do to change the current situation?
Analysts say the solution is for Angola to diversify its economy, save
and invest for the future — especially in skills and infrastructure
development — and improve governance.
Is inequality a major problem in African nations or is it expeected that with growth in any nation's economy, the inequality gap is bound to get wider?
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