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Thursday, August 7, 2008 - Web posted at 8:28:38 AM GMT

Angola sees double-digit growth

JOHANNESBURG - Angola, sub-Saharan Africa's second-biggest oil producer, expects to maintain double-digit economic growth next year and may launch its own stock exchange by early 2009, its deputy prime minister said yesterday.

"In 2009, it (gross domestic product) will continue to grow in double digits," Aguinaldo Jaime told a Johannesburg investment briefing aimed at showcasing business opportunities in one of the continent's fastest growing economies.

The southern African country in May forecast economic growth of 16,5 per cent in 2008, driven by oil exports, compared to 24,4 percent in 2007.

The World Bank expects the economy to expand by 20 per cent this year with growth slowing to 10-11 per cent in 2009.

Jaime also said launching a Luanda stock exchange was a "task for the next government", which will be elected in long-delayed parliamentary elections due next month.

"I don't think it would be fair on my side to put a deadline.

Just to forecast, maybe late 2008 or beginning of 2009," Jaime told Reuters on the sidelines of the briefing.

Nampa-Reuters

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