Oscar da Mata advocates for less state intervention and more economic freedom to foster wealth creation and development.
Economist Oscar da Mata is calling for a fundamental redesign of Angola's economic model, emphasizing the urgent need for the state to reduce its intervention. He argues that the current market economy, characterized by excessive state involvement, has hindered national development and prevented its benefits from reaching the general population.
Da Mata, a financial manager and former founder of Standard Bank Angola, made these remarks during the recent launch of his book, "Economic Myths of Angola — Essay on Freedom and Wealth Creation," in Lisbon. He contends that greater economic freedom and diminished state interference are crucial for transforming the country's potential resources into tangible wealth.
The book challenges 18 common economic assumptions, advocating for a liberal model where the state acts as a regulator rather than a direct participant in the economy. Da Mata asserts that the state's role as the primary driver of the economy has yielded disastrous results, and alternative roles like regulation and supervision should be explored.
Why it mattersAngolan citizens are affected by the current economic model because its excessive state intervention has prevented development and the equitable distribution of its benefits.
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