Public investment in Angola cut by 28.2 pct in 2016

12 November 2015

The government of Angola will spend 4.3 trillion kwanzas and receive just 3.5 trillion kwanzas in 2016, generating a deficit of almost 800 billion kwanzas, according to the draft law on the State Budget (OGE).

Cited by Angolan weekly newspaper Expansão, the proposal contains a cut of 28.2 percent in public investment against the value expected for 2015, according to the draft State Budget for 2016, delivered to the National Assembly on 29 October.

The amount entered in the 2016 State Budget for the acquisition of fixed assets, which corresponds to investment, is no more than 815.6 billion kwanza, against a forecast of 1.1 trillion kwanzas in the 2015 Revised State Budget.

The newspaper reported that it was the second consecutive year in which investment has fallen by almost 30 percent. In 2015 investment is expected to fall by 27.7 percent compared to 1.5 trillion kwanzas in 2014. (macauhub/AO)