Luanda - Angola's government has cut its forecast for economic growth this year to 5.1 percent from a previous estimate of 7.1 percent, President Jose Eduardo dos Santos said on Tuesday.
Dos Santos said in a state of the nation speech in parliament that a long drought in the country, lower-than-expected growth in the oil sector, “bad management” of public debt and weakness in the global economy led to the lower forecast.
Angola is Africa's second-largest oil producer after Nigeria. Its economy grew 7.4 percent in 2012. - Reuters