25 September 2013 – Angola’s minister of territorial development and planning, Job Graca, says the country’s economy has become vulnerable as a result of its high dependence on the oil sector, which now accounts for 45% of Angola’s gross domestic product.

Apart from representing nearly half of Angola’s GDP, the oil sector provides 60% of total tax revenues and accounts for 90% of the country’s exports.

Angola’s 2013 − 2017 national development plan contains measures to reduce vulnerability resulting from dependence on that sector. This includes a strategy to diversify the structure of the national economy during the first years of the current governance cycle, and to expand the growth base by stimulating labour intensive sectors.