Angola’s 2016 State Budget intends to promote economic recovery

7 October 2015

The Angolan general budget for 2016 will aim to promote economic recovery, while ensuring “basic functions” said Finance Minister Armando Manuel speaking to Angolan public radio and television on Tuesday.

The minister also said the state budget, which was in the final stages of preparation and should be delivered to the National Assembly, the country’s parliament later this month, “will cover the basic needs of the state.”

“That is,” the Minister said,”to ensure payment of its employees, ensure repayment of debt obligations, ensure the basic functioning of institutions, both in terms of compulsory expenditure and minimal operating expenses.”

Minister Armando Manuel added that the budget would also allow the economy to return to growth through targeted public investment for infrastructure projects needed to stimulate economic activity.

The Finance Minister added that the Budget for 2016 “will seek to balance income and expenses” while allowing “a moderate level of debt in the context of fiscal responsibility towards future generations.” (macauhub/AO)