Angola’s public debt totals US$31.4 billion

29 November 2011

Luanda, Angola, 29 Nov – Angola’s foreign and domestic public debt currently totals US$31.4 billion, the country’s Finance Minister, Carlos Alberto Lopes, said Sunday in Luanda noting that the foreign component totalled US$17.8 billion.

The minister said that the foreign debt was mainly owed to China, with US$5.6 billion, Brazil, with US$1.8 billion, Portugal with US$1.4 billion and Spain with US$1.2 billion.

Domestic debt, which totals some US$13.6 billion, is the result of issuing bonds and treasury bills to fund the Public Investment Programme that is underway and to bring forward revenues based on monthly cash flow plans, respectively.

On a programme aired on state TV station Televisão Popular de Angola, the Finance Minister noted that the government projected gross domestic product (GDP) growth of 12.8 percent in the two sectors of the economy – oil and non-oil – and that the inflation rate was expected to total 10 percent. (macauhub)