Angolan President João Lourenço has said austerity is crucial for economic recovery and economic diversification, Xinhua reports.
The Chinese state-run news agency quotes Mr Lourenço as telling a press conference that his government intends to privatise all public-sector companies that are insufficiently lucrative, and to freeze the pay of civil servants.
The International Monetary Fund said in November that the Angolan economy recovered slightly last year, when gross domestic product was growing at an annual rate of 1.1 percent at one stage, but said the Angolan authorities should take decisive measures to correct macroeconomic imbalances.
