Angola's long-term foreign currency issuer default (IDR) rating has been confirmed to “B-” by the credit rating agency Fitch

Angola's IDR ratings reflect low governance indicators, high inflation, high levels of public debt denominated in foreign currencies, and one of the highest levels of commodity dependence among sovereign states rated by Fitch. These are offset by higher international reserves compared to their peers, current account surpluses, and manageable debt repayment risks due to a continuing favorable oil price environment over the next two years. Fitch forecasts GDP growth of 1.8% in 2024 and 2.2% in 2025, compared to 0.8% in 2023, driven by the non-oil economy. The broadening of the surplus in 2024 reflects generally stable crude oil export earnings.