Angola Uses Oil Windfall to Diversify Economy, Citi Says

Angola is allocating capital derived from an oil windfall to fund national economic diversification efforts, according to financial services firm Citi.

Fiscal Strategy

The nation is utilizing excess revenues generated by crude oil sales to broaden its domestic economy and reduce exposure to oil market volatility, Citi reported in its financial assessment.

Key facts

• Angola is deploying oil windfall revenues into economic diversification initiatives.
• The economic strategy assessment was detailed by investment bank Citi.
• The initiative targets reduced long-term dependence on petroleum exports.