Final vote on Angola’s revised state budget scheduled for 16 September

7 September 2016

Angola’s revised State Budget for 2016 will be brought to a parliamentary plenary for a final vote on 16 September, according to a decision of the Standing Committee of the National Assembly, the Angolan parliament, at a meeting held in Luanda.

The proposed State Budget Revision Act (OGE) 2016 includes estimated revenues of 3.4846 trillion kwanzas, compared to 3.5145 trillion in the previous document and expenses of 4.6263 trillion compared to 4.2957 trillion kwanzas in the original document.

The budget was prepared based on an oil price of US$40.9 per barrel, compared to US$45 in the original budget.

Angolan state newspaper Jornal de Angola reported that with the revised budget the government plans to adjust the macroeconomic scenario to reality to respond to the global economic climate, marked by lower commodity prices on international markets.

The focus is on indicators such as the inflation target, public debt, budget deficit and the benchmark oil price, which is the main export and main source of Angolan tax revenues. (macauhub/AO)