LUANDA, Sept. 16 (Xinhua) -- Deputy Director General of the International Monetary Fund (IMF) Naoyuki Shinohara on Tuesday said that the Angolan economy might grow by 7 percent in the medium term or by late 2015 due to the expansion of the non-oil sector of the African country.
Speaking at a press conference in Luanda, Shinohara said he foresaw such growth taking into account the continued growth that the country records, particularly in non-oil sector.
"Angola's non-oil sector has developed significantly. We hope it continues that way so that the country stops relying on the oil sector and continues to invest more in non-oil industry," he said.
The IMF official said the global economic outlooks are expanding significantly and, in this process, Angola must remain firm as it faced many challenges, especially in reducing inequality and poverty and the country was also affected by the fall of oil price.
Currently Angola produces some 1.7 million barrels of crude oil a day and rivals Nigeria as the largest oil producer in Africa, and the Angolan government hoped to diversify the country's oil- dependent economy.
Shinohara is in Luanda since Monday for a three-day working visit, aimed at strengthening bilateral cooperation.
