Angolan Finance Minister Jos Pedro de Morais has said that his country has one of the fastest growing economies in the world, with a 20.6 percent estimated growth rate for this year, based on oil production increase and recovery of other economic sectors.

Speaking on Thursday at a conference under the theme "Financing in the internal market", the minister said that the non-oil sector has seen improvements in the agricultural field, thanks to the progresses in the land mines clearance sector, introduction of the irrigation system and the social reintegration of the displaced populations.

He added that the civil construction sector has also been growing, as never seen before, due to the number of public and private projects that are being implemented in all provinces.

He seized the occasion to inform that the repair of roads, bridges, schools and hospitals will soon be sped up.

The minister revealed that, in the last three years, the country's economy grew at an average of 12.5 percent rate and, as a result, the country's per capita income is estimated at 2,000 dollars.

According to Jos Pedro de Morais, the government's accounts have improved significantly, with the fiscal system registered in 2005 having a surplus of 8.5 percent of the Gross Domestic Product (GDP), in comparison to 1.1 percent of the year 2004.

He noted that the social expenses also increased in 2005 to 29 percent, compared to 18 percent of 2004.

Source: Xinhua