WORLD ECONOMY

The world economy continued to face challenges in 2022, reflected in price developments, financial market instability and the fragmentation of international trade and investment. The war in Ukraine, which began with the invasion on 24 February, posed significant challenges to the global supply chains of food and energy commodities and contributed to the acceleration of the global inflation rate, which, according to the International Monetary Fund (IMF), reached 8.8% in 2022, higher than the 4.7% estimated for 2021.

ANGOLAN ECONOMY

In the difficult context of the world economy (GDP slowdown, acceleration of inflation and tightening of monetary policy), the Angolan economy experienced a special moment after having followed an inverted trajectory, benefiting from its status as a net oil exporter and the implementation of structural adjustment measures in recent years.

FINANCIAL MARKETS

Money supply, as measured by the M2 monetary aggregate, fell by 2.8% in 2022, in line with the exchange rate appreciation, with the foreign currency component falling by 23.5%. In contrast, M2 in local currency increased by 16.87%, largely due to the stability of the exchange rate and increased confidence in the Kwanza.