Africa's leading oil producer Angola is expected to achieve a record economic growth of 20.6 percent this year, an official said at the end of a conference on Oil Revenue Management.

Angola Press ANGOP on Monday quoted the Finance vice minister Severim de Morais as saying that similar to the economic growth rate, in the same period, public investments will be valued at 850 million U.S. dollars.

Morais said that the results had a catalytic effect on the countrys economy, especially in attracting private investments which is estimated to reach 6.3 million U.S. dollars.

He estimated that the unemployment rate will also be decreased from 74 percent last year to 29.2 percent in 2006, thus bringing about a promising perspective of a more emphatic reduction in the current year.

Morais indicated that having into account the growth of the civil construction sector, being an activity that intensely uses the labor factor, the government would create increasing opportunities to direct and indirect employment in the year 2006.

The vice minister stated that in the Public Investment Program for 2005/2006, the government has registered 1,663 projects, out of which 52 percent were executed or are about to be implemented, mainly in the fields of education, health, public works, as well as energy and water sectors.

Source: Xinhua