LUANDA, Sept. 29 (Xinhua) -- Angola on Thursday approved the 2023-2027 National Development Plan during the 8th regular session of the Council of Ministers, held in Luanda, Angola's capital, with the plan setting out the average growth rate for both Angola's population and economy at around 3 percent in the five-year period.

Angolan authorities project a population of 38 million by 2027, with an estimated gross domestic product (GDP) of 62 trillion kwanzas (about 74.77 billion U.S. dollars). The population and GDP are expected to grow at an annual rate of approximately 3 percent, according to the Press Center of the Presidency of the Republic of Angola.

Following the meeting, Minister of Economy and Planning Mario Caetano Joao addressed the media, noting that in the five-year period, the unemployment rate is expected to decrease from 30 percent to 25 percent, life expectancy to increase from 62 years to 63 years, and the literacy rate to rise from 76 percent to 78 percent.

"The public debt ratio will decrease from 66 percent to 60 percent, aligning with fiscal sustainability laws," said the minister. Enditem

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