Angolan government reduces expenses in State Budget review

12 June 2009

Luanda, Angola, 12 June – The proposed review of the Angolan state budget (OGE) approved Wednesday by the Angolan government is based on an oil price of US$37 per barrel and sees expenditure reduced by 500 billion kwanzas.

The initial budget, approved at the start of the year, was based on oil prices at US$55 and expenditure of 3.1 trillion kwanzas (US$41.45 billion) whilst the reviewed version has outlined expenditure of just 2.6 trillion kwanzas..

In a statement issued at the end of a Council of Ministers meeting, the Government gave assurances that the review, “does not compromise the original aims” of the OGE for this year.

The Education and Health sectors account for 34.6 percent of total expenditure, the biggest slice of the budget, the Administration sector follows it with 29.2 percent and the Economic sector accounts for just 14.7 percent of expenditure. (macauhub)