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Angolan President Joao Lourenço delivered his first speech before the National Assembly since his re-election. He was re-elected as the president a few weeks ago. it is his second term and the election was keenly contested, where he won by a narrow margin
Angolan President Joao Lourenço delivered his first speech before the National Assembly since his re-election. He was re-elected as the president a few weeks ago. it is his second term and the election was keenly contested, where he won by a narrow margin.
The elected president said that he would devote all his strength and attention to the betterment of the people and resolving the main problems of the people. The country has experienced enormous turbulence, including two crises that have created difficulties in the lives of all families, businesses, and state institutions. Angola is one of the largest oil producers in Africa and is faced with higher public debts.
Higher oil prices in 2022 have helped Angola reduce public debt to 56.5% of the gross domestic product in 2022. And yet, the debt is still high. It was 79.7% in 2021 as against 123.8% in 2020. The country is hoping to improve its position regarding indebtedness riding on the back of improved inward remittances by way of crude oil exports since the prices of the fossil fuel looked up. The country needs to address pressing matters like education reforms and other infrastructure.
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The win by the president was by a wafer-thin majority of 51.17%of the vote against his immediate rival. President Joao Lourenco, the 68-year-old former general, has an unenviable task before him to accomplish the promises he made during the election campaign.
