Angolan parliament votes on State Budget for 2016 in December

27 November 2015

Angola’s Parliament is due meet in a plenary session on 11 December for the final overall vote on the General State Budget (OGE) for 2016, according to a decision taken at a meeting of parliamentary leaders.

The proposed State Budget Law for the 2016 financial year was approved, in general, on 17 November.

The proposal was drawn up based on the average price of oil of US$45 per barrel and daily production of 1.888 million barrels, with the underlying macroeconomic scenario projecting gross domestic product (GDP) growth of 3.3 percent and an inflation rate of 11 percent.

The proposed budget outlines fixed expenditure of 6.429 trillion kwanzas and a budget deficit as a percentage of gross domestic product of 5.5 percent. (macauhub/AO)