Economist comments on purchase of Portuguese firms

Angola, Luanda –  In the moment of decision for purchasing Portuguese firms, which  that European country’s  government put in the market, following the agreement with the International Monetary Fund (IMF) and the European Central Bank, Angolan entrepreneurs and investors have to make intelligent selection and without euphoria.This advice was given on Saturday by the Angolan economist José Cerqueira, at an interview to ANGOP aimed to debate the world financial and economic crisis in some countries of the Euro area, including Portugal.Although he is not linked to any dossier in preparation that points out to investment and purchase of Portuguese firms, José Cerqueira said that he does not advise anyone to make big  investments in that country, at this moment. "(…) What I mean is that personally, as an investor, I would not do it (purchase a Portuguese firm), because I would be investing in a country whose economy will have a negative growth in the coming years and certainly a growth not superior to 3 per cent in the coming years", he said.José Cerqueira, who was the main economist during the first programme of economic reform in Angola, mentioned other factors that contribute to the position that the Angolan authorities should not be euphoric at the moment.Two differences between the two countries, in economic terms, he exemplified, are the growing Angolan youth and the diversity of its natural resources, which, according to him, will enable a continuous growth, contrary to Portugal.Another element mentioned by the economist is the fact that the current situation of crisis in Portugal can bring about speculation investments and not of precaution ones, that can help Angola to create external savings.Recently, it was reported that an Angolan bank wants to purchase the Portuguese Banco Portugues de Negócios (BPN), which has been confiscated by the state following the discovery of serious irregularities in the institution.